USD/CAD erodes SMAs

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Most people felt that September was nailed on for Fed tapering and it was only a question of the amount. It's looking slightly more dubious now."
- HSBC (based on Reuters)

Pair's Outlook

USD/CAD moved even closer to the rising support line that has been in force since May and is the lower boundary of the major up-trend channel. Accordingly, a possibility of a rebound from 1.0375 increases, also considering the presence of the 100-day SMA and the monthly S1 nearby. In case of an unlikely scenario, namely violation of these supports, the area formed by the 200-day SMA, 2009-2010 lows and the bullish line at 1.0285 and below will be exposed.

Traders' Sentiment
Being that the Canadian Dollar continues to appreciate relative to its southern peer at an accelerate pace, there are more and more traders believing USD/CAD has already bottomed out and is about to start recovering—this is the view of 72% of SWFX market participants.
© Dukascopy Bank SA
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Actual Topics

Mon, 09 Sep 2013 14:39:10 GMT

NZD/USD takes a break at 0.8016

For the time being the monthly R1 is proving to be a notable obstacle for the currency pair, but is nonetheless likely to give in, allowing AUD/USD to challenge 0.8105/0.8080.

Mon, 09 Sep 2013 14:38:53 GMT

AUD/USD slows down ahead of 100-day SMA

Following a breach of the monthly R1 AUD/USD seems to have nearly exhausted the bullish momentum that took the price away from the Aug 5 low at 0.8847 and drove it to the 100-day SMA.

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