USD/CAD to remain bearish for now; approaches 1.0241

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Commodity prices are a touch higher compared to where they were yesterday. It's helping the Canadian dollar today."
- Nomura Securities in New York (based on Mining Weekly)

Pair's Outlook

The US dollar is trading slightly lower against the Canadian dollar. Therefore, in case bearish momentum holds, 1.0241 (PP Monthly) is likely to be the first target, followed by 1.0183 (S2 and PP Weekly) and 1.0133 (100-day SMA), respectively.

Traders' Sentiment
According to SWFX traders' sentiment, most of market participants (62%) still hold a bullish stance on USD/CAD, whereas 38% of currency traders expect the pair to fall down. Within 100 points from the present market price, investors expect USD/CAD to rise (72%).
© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 25 Jun 2012 15:42:00 GMT

NZD/USD failed to hold above 0.7961; might fall further

NZD inched lower against the American dollar, holding a mild bearish bias. If it intensifies, 0.7810 is likely to be the next target for bears, which successful breach would expose 0.7742 (PP/S2 Monthly) and 0.7678 (23.80% Fibo). However, 0.7810 is prone to become a strong support, from which bullish investors are probably going to initiate bullish correction.

Mon, 25 Jun 2012 15:40:27 GMT

AUD/USD is trying to reach 0.9955; flirting with 55-day SMA

The Aussie dollar slumps lower against the US dollar along with the 55-da simple moving average. If bearish correction deepens further, 0.9955 (S1 Weekly) is likely to become the first target. A breakout here would expose next support lines at 0.9826 (23.60% Fibo) and 0.9740 (Lower Bollinger band; S3 Weekly), respectively.

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.