Forex: USD/CAD finds support at 0.9840
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USD/CAD
FXstreet.com (Barcelona) - The greenback is recovering some ground at the moment, pushing the cross from session lows in the proximity of 0.9840 to the actual levels just shy of 0.9860, as risk aversion seems to gather pace as of writing.
Stronger than expected US ISM Manufacturing PMI has been weighting on the risk associated assets, in combination with poor data out of the manufacturing sector in key euro zone economies.
The cross is now losing 0.75% at 0.9858 with the next support lying at 0.9832 (low Dec.18) followed by 0.9825 (low Dec.13) and finally 0.9818 (Upper Bollinger).
On the upside, a breakout of 0.9886 (MA100d) would bring 0.9897 (MA21d) and then 0.9943 (hourly high Jan.2).
Stronger than expected US ISM Manufacturing PMI has been weighting on the risk associated assets, in combination with poor data out of the manufacturing sector in key euro zone economies.
The cross is now losing 0.75% at 0.9858 with the next support lying at 0.9832 (low Dec.18) followed by 0.9825 (low Dec.13) and finally 0.9818 (Upper Bollinger).
On the upside, a breakout of 0.9886 (MA100d) would bring 0.9897 (MA21d) and then 0.9943 (hourly high Jan.2).
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