Forex: USD/CAD aiming a move back to 1.0100
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USD/CAD
FXstreet.com (Barcelona) - Having risen and found resistance at the 1.0100 psychological level during the European morning, the market eased back to 1.0080 for the NY opening and the release of US Durable Goods figures. US flows are pushing the USDCAD back to its highs, above 1.0090 as of writing.
Durable Goods data also indicates the change "excluding transportation", beating the 0.7% consensus as the actual figure was printed at 1.3%, lower than last month's 1.6%. Pending Home Sales are due at 15:00 GMT. Also imortant for today's USDCAD trading is BoC's Governor Mark Carney speech later at 16:00 GMT.
"USDCAD remains entrenched in a strong technical bull trend", wrote TD Securities analysts Shaun Osborne and Greg Moore, targeting a near-term move to 1.0135 (61.8% retracement of last year's move down), with 1.0250 reachable above there. "We also expect solid support on dips to the mid/upper 0.99 from here", they added
Durable Goods data also indicates the change "excluding transportation", beating the 0.7% consensus as the actual figure was printed at 1.3%, lower than last month's 1.6%. Pending Home Sales are due at 15:00 GMT. Also imortant for today's USDCAD trading is BoC's Governor Mark Carney speech later at 16:00 GMT.
"USDCAD remains entrenched in a strong technical bull trend", wrote TD Securities analysts Shaun Osborne and Greg Moore, targeting a near-term move to 1.0135 (61.8% retracement of last year's move down), with 1.0250 reachable above there. "We also expect solid support on dips to the mid/upper 0.99 from here", they added
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