26 Jul 2013
USD/CAD in retreat after US consumer sentiment
FXstreet.com (New York) - The USD/CAD technical pair turned slightly lower Friday, following the release of US data, with markets once again seeing a lower USD across the board.
In the Untied States, the Reuters/Michigan Consumer Sentiment Index (July) was reported at 85.1, compared with a figure of 84.1 previously.
Technically speaking, the USD/CAD is now operating at 1.0275, incurring modest losses of -0.04% during US trading. The Mataf.net analyst team calculates short-term supports for the USD/CAD at 1.0255, ahead of 1.0224, and 1.0194.
USD/CAD strategic bias
According to the TD Securities Team, “USD/CAD retains a softer undertone but the descent is slowing in the short-term and the 1.0250/80 support zone on the charts continues to act as something of a rough anchor for the market at the moment. Back above 1.03 would be a minor USD-positive.”
In the Untied States, the Reuters/Michigan Consumer Sentiment Index (July) was reported at 85.1, compared with a figure of 84.1 previously.
Technically speaking, the USD/CAD is now operating at 1.0275, incurring modest losses of -0.04% during US trading. The Mataf.net analyst team calculates short-term supports for the USD/CAD at 1.0255, ahead of 1.0224, and 1.0194.
USD/CAD strategic bias
According to the TD Securities Team, “USD/CAD retains a softer undertone but the descent is slowing in the short-term and the 1.0250/80 support zone on the charts continues to act as something of a rough anchor for the market at the moment. Back above 1.03 would be a minor USD-positive.”