24 Sep 2013
USD/CAD off lows after Canadian retail sales
FXstreet.com (Córdoba) - The USD/CAD moved off lows but remained capped by the 1.0300 level after data showed Canadian retail sales grew in line with expectations in July.
Canadian retail sales rose 0.6% to CAD 40.30 billion in line with expectations. Ex-autos, sales climbed 1.0%, beating forecast of a 0.6% increase. USD/CAD bounced from a low of 1.0268 area and reached the 1.0290 zone despite solid data, although the pair lacked momentum to overtake the 1.0300 mark and it was last nearly flat at 1.0288.
USD/CAD technical levels
In terms of technical levels, USD/CAD could face immediate resistances at 1.0300/05 (psychological level/daily high) and 1.0317 (Sep 18 high) ahead of 1.0348 (100-day SMA). On the downside, supports are seen at 1.0268 (daily low) and 1.0215 (200-day SMA).
Canadian retail sales rose 0.6% to CAD 40.30 billion in line with expectations. Ex-autos, sales climbed 1.0%, beating forecast of a 0.6% increase. USD/CAD bounced from a low of 1.0268 area and reached the 1.0290 zone despite solid data, although the pair lacked momentum to overtake the 1.0300 mark and it was last nearly flat at 1.0288.
USD/CAD technical levels
In terms of technical levels, USD/CAD could face immediate resistances at 1.0300/05 (psychological level/daily high) and 1.0317 (Sep 18 high) ahead of 1.0348 (100-day SMA). On the downside, supports are seen at 1.0268 (daily low) and 1.0215 (200-day SMA).