Forex: USD/CAD in session highs, around 0.9990
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USD/CAD
FXstreet.com (Barcelona) - The greenback is advancing against its fellow neighbor on Tuesday, as the risk aversion is gathering pace after the speech by Chief B.Bernanke, while market participants remain cautious waiting for the outcome of the EU finmin gathering.
Data-wise, Canadian wholesale sales have contracted 1.4% on a monthly basis during September, down from the +0.5% forecasted and the +0.3% previous.
Camilla Sutton, Strategist at Scotiabank, comments "We expect today's range to fall between 0.9915 and 1.0000".
As of writing, USDCAD is up 0.22% at 0.9985 facing the next hurdle at 1.0019 (high Nov.19) follwed by 1.0044 (Upper Bollinger) and 1.0057 (high Nov.16).
On the other hand, a breakdown of 0.9954 (low Nov.19) would open the door to 0.9948 (low Nov.8) and 0.9937 (MA100d).
Data-wise, Canadian wholesale sales have contracted 1.4% on a monthly basis during September, down from the +0.5% forecasted and the +0.3% previous.
Camilla Sutton, Strategist at Scotiabank, comments "We expect today's range to fall between 0.9915 and 1.0000".
As of writing, USDCAD is up 0.22% at 0.9985 facing the next hurdle at 1.0019 (high Nov.19) follwed by 1.0044 (Upper Bollinger) and 1.0057 (high Nov.16).
On the other hand, a breakdown of 0.9954 (low Nov.19) would open the door to 0.9948 (low Nov.8) and 0.9937 (MA100d).
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