USD/CAD halted by 1.0164/46

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The Canadian dollar has take more of its cues from the improving U.S. growth story, and that could have positive effects on Canada's economy."
- Western Union Co (based on Bloomberg)

Pair's Outlook

Yesterday USD/CAD subsequently broke through 1.0213, the former up-trend support line, and 1.0187/84, the monthly PP and weekly S1, signalling that if the recovery is to recommence, the bulls will require more time to remedy the situation and return the outlook back to positive. Among the technicals only weekly studies are confidently giving ‘buy' signals.

Traders' Sentiment
There was no change observed with traders' sentiment towards USD/CAD. Still, 64% of all opened in the SWFX marketplace positions are long and 36% of them are short. Similar stability is demonstrated by the ratio of buy to sell orders, which is currently standing at 70% to 30% accordingly.
© Dukascopy Bank SA
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Actual Topics

Wed, 27 Mar 2013 16:34:52 GMT

NZD/USD's access to higher levels denied by 0.8393

A rebound from 0.8338/33 did not last for long, as NZD/USD has sharply dropped after a contact with 0.8393, the upper Bollinger band.

Wed, 27 Mar 2013 16:34:31 GMT

AUD/USD falters ahead of 1.0518

Before AUD/USD could touch upon 1.0518, short-selling has settled in and pulled the price back down to 1.0417, revealing fragility of the current upward trend, as absence of serious resistances implies that later on the pair will find strong supports to uphold it to be missing.

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