Back
5 Jun 2013
USD/CAD falls to intra-day lows amid poor employment data
FXstreet.com (San Francisco) - The USD/CAD is extending declines from the 1.0355 area following the weaker than expected ADP employment data in US in May. After falling 30 pips, the USD/CAD has tested the intra-day low at 1.0325.
Canadian building permits also came out recently with the index rising 10.5% in April, the fastest pace since December 2012.
Currently the USD/CAD is pricing at 1.0330, 0.10% negative on the day. Short term perspective is slightly bearish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is neutral.
Above 1.0355, next resistance is at 1.0389 (high Jun.3) ahead of 1.0421 (high May.29) and finally 1.0446 (high June 2012). On the downside, a break below 1.0261 (low Jun.3) would bring 1.0255 (MA21d) and then 1.0251 (low May 22).
Canadian building permits also came out recently with the index rising 10.5% in April, the fastest pace since December 2012.
Currently the USD/CAD is pricing at 1.0330, 0.10% negative on the day. Short term perspective is slightly bearish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is neutral.
Above 1.0355, next resistance is at 1.0389 (high Jun.3) ahead of 1.0421 (high May.29) and finally 1.0446 (high June 2012). On the downside, a break below 1.0261 (low Jun.3) would bring 1.0255 (MA21d) and then 1.0251 (low May 22).