USD/CAD reverses at weekly R1

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Indeed, the loonie's losses pale in comparison to the huge depreciation in the yen and rand in 2013. Though some of the C$'s move can be traced to softer Canadian data, make no mistake, this is largely a stronger US$ story." 
- BMO Nesbitt Burns (based on Globe and Mail)

Pair's Outlook

Seems that the Canadian Dollar attempts to recover its positions, as today the price reversed from the weekly R1 level at 1.0370 and returned into the Bollinger band range. However, this might be only a short-term reaction to optimistic U.S. economic figures and in a few days the U.S. Dollar may strengthen further. The RSI has a value of 65 and yesterday reached a level of 70 for the first time in two months.

Traders' Sentiment
Investors maintain bullish sentiments, as the buy side keeps a 73% share. Seems that the rapidly increasing exchange rate does not frighten traders and they expect to see new highs. Waiting orders market is bullish with 65% of orders to buy the loonie.
© Dukascopy Bank SA
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Actual Topics

Thu, 23 May 2013 16:07:28 GMT

NZD/USD gains to 0.81

NZD/USD rebounded from the weekly S1 level at 0.8005, which was reached during London trading session and was a new low in the on-going downside movement.

Thu, 23 May 2013 15:36:31 GMT

AUD/USD spikes down

The Australian Dollar experiences huge capital outflow, as investors are afraid of a potential economic slowdown in the country, which might be seen through intensive money withdrawal from the economy.

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