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22 Nov 2013
USD/CAD falls after strong Canadian retail sales
FXstreet.com (Córdoba) - The USD/CAD fell to a fresh session low of 1.0532 after the latest string of Canadian data showed retail sales rose more than expected in September while consumer prices came in below expectations.
However, the USD/CAD quickly bounced and finally settled around 1.0540 where it is trading at time of writing, still 0.2% below its opening price. Canadian retail sales grew 1.0% in September against the 0.3% expected, giving the loonie a boost.
USD/CAD technical levels
As for technical levels, immediate resistances for USD/CAD are seen at 1.0568 (daily high) and 1.0573 (Jul 9 high) ahead of 1.0607 (2013 high Jul 5). On the downside, supports could be found at 1.0530 (21-hour SMA) and 1.0514 (daily low) ahead of 1.0500 (psychological level).
However, the USD/CAD quickly bounced and finally settled around 1.0540 where it is trading at time of writing, still 0.2% below its opening price. Canadian retail sales grew 1.0% in September against the 0.3% expected, giving the loonie a boost.
USD/CAD technical levels
As for technical levels, immediate resistances for USD/CAD are seen at 1.0568 (daily high) and 1.0573 (Jul 9 high) ahead of 1.0607 (2013 high Jul 5). On the downside, supports could be found at 1.0530 (21-hour SMA) and 1.0514 (daily low) ahead of 1.0500 (psychological level).