12 Nov 2013
USD/CAD supported post retreat off daily high
FXstreet.com (Barcelona) - Having dipped during Asia to post a weekly low at 1.0464, USD/CAD climbed throughout the European session to post a two month high at 1.0509, before declining back to where it is currently trading at 1.0491, up 0.14% on the days trading.
USD/CAD led by USD strength?
Today has been quiet datawise for the pair which has been primarily led by dollar strength across the board. The pair climbed to post a two month high, before being rejected by sellers. With nothing from Canada, the only US data today has been a decline in the NFIB Business Optimism Index for October and the Chicago Fed National Activity Index which came in at 0.14. The Redbook Index also suffered a mild decline in both YoY and MoM readings.
How strong has USD/CAD been?
FXstreet.com propriatory tools, the OB/OS Index and the Trend Index are showing a neutral and slightly bullish houly sentiment. RSI is at 55 at the moment while the ADX is at 25. The hourly 200-period SMA is currently at 1.0446 and flat. The exponential average closing price for the last
20 days is 1.0419 and is trending down.
How volatile has the USD/CAD been?
2-Standard Deviation Volatility Bandwidth is 40 pips and mildly expanding on the hourly chart, while the ATR(14) prints 8 pips. The average movement
for this session has been of 7 pips per hour in the last 4 weeks.
What price levels and patterns have to be considered?
The central pivot point is located at 1.0475. Pivot supports for this pair are to be found at 1.0463 (S1), 1.0450 (S2) and 1.0438 (S3). Conversely, daily pivot resistances for this pair are to be found at 1.0488 (R1), 1.0500 (R2) and 1.0513 (R3).
Further, special attention deserves the price range 1.0486-1.0452 where several technical levels are confluent today.Candlestick patterns detected in the USD/CAD are: a Hammer to be found in the 1-day timeframe
USD/CAD led by USD strength?
Today has been quiet datawise for the pair which has been primarily led by dollar strength across the board. The pair climbed to post a two month high, before being rejected by sellers. With nothing from Canada, the only US data today has been a decline in the NFIB Business Optimism Index for October and the Chicago Fed National Activity Index which came in at 0.14. The Redbook Index also suffered a mild decline in both YoY and MoM readings.
How strong has USD/CAD been?
FXstreet.com propriatory tools, the OB/OS Index and the Trend Index are showing a neutral and slightly bullish houly sentiment. RSI is at 55 at the moment while the ADX is at 25. The hourly 200-period SMA is currently at 1.0446 and flat. The exponential average closing price for the last
20 days is 1.0419 and is trending down.
How volatile has the USD/CAD been?
2-Standard Deviation Volatility Bandwidth is 40 pips and mildly expanding on the hourly chart, while the ATR(14) prints 8 pips. The average movement
for this session has been of 7 pips per hour in the last 4 weeks.
What price levels and patterns have to be considered?
The central pivot point is located at 1.0475. Pivot supports for this pair are to be found at 1.0463 (S1), 1.0450 (S2) and 1.0438 (S3). Conversely, daily pivot resistances for this pair are to be found at 1.0488 (R1), 1.0500 (R2) and 1.0513 (R3).
Further, special attention deserves the price range 1.0486-1.0452 where several technical levels are confluent today.Candlestick patterns detected in the USD/CAD are: a Hammer to be found in the 1-day timeframe