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26 Jun 2013
USD/CAD stabilizes in negative territory
FXstreet.com (New York) - The USD/CAD technical pair has fallen lower during US trading, stabilizing in the region of 1.0470 Wednesday.
In the United States, the EIA Crude Oil Stocks change (June 21) was reported at 0.018M, against expectations of -1.900M and compared with a figure of 0.313M previously.
USD/CAD entrenched in negative territory
At the time of writing, the USD/CAD is entrenched in negative territory, operating at 1.0472 in these moments, unable to shake a -0.40% decline off its opening. Despite the recent stagnation, the Mataf.net analyst team has identified the next short-term measures of support at 1.0464, then 1.0417, and 1.0375. Alternatively, resistance lies higher at 1.0553, onto 1.0595, and 1.0642.
USD/CAD downside extension below 1.0530
According to the Technical Analyst Team at ICN.com, “The USD/CAD is trading a bit to the downside, which is expected to extend as long as the pair is stable below 1.0530. Meanwhile, the stochastic and RSI are reflecting the pair’s need for a downside correction.”
In the United States, the EIA Crude Oil Stocks change (June 21) was reported at 0.018M, against expectations of -1.900M and compared with a figure of 0.313M previously.
USD/CAD entrenched in negative territory
At the time of writing, the USD/CAD is entrenched in negative territory, operating at 1.0472 in these moments, unable to shake a -0.40% decline off its opening. Despite the recent stagnation, the Mataf.net analyst team has identified the next short-term measures of support at 1.0464, then 1.0417, and 1.0375. Alternatively, resistance lies higher at 1.0553, onto 1.0595, and 1.0642.
USD/CAD downside extension below 1.0530
According to the Technical Analyst Team at ICN.com, “The USD/CAD is trading a bit to the downside, which is expected to extend as long as the pair is stable below 1.0530. Meanwhile, the stochastic and RSI are reflecting the pair’s need for a downside correction.”