Filed Under:
Forex pairs in this Article » USD/CAD
FXstreet.com (Barcelona) - Having made a morning high at 1.0020 just above R1 resistance at 1.0019, USDCAD has steadily declined to where it is currently trading at 0.9985.

The pair paused for thought finding support at parity, which was also the daily pivot point, before continuing its gradual decline. The momentum was supported by decent but only moderately significant Canadian numbers and price is currently looking to either find support at S1 support at 0.9987 or consolidate its move lower. With US markets closed today due to Hurricane Sandy, momentum is especially low.

Forex Ticket analysts are neutral on the pair in the face of such low activity whilst ICN.com analysts are watching to see if price closes below 0.9990 today to support the complete formation of the bearish Butterfly formation. Elsewhere, European stocks are higher alongside commodities as we head towards the European close.
comments powered by Disqus