Loonieviews November 13, 2013


USDCAD Open 1.0489-94 Overnight Range 1.0482-94

Original post on Saxo Bank’s Trading Floor

USDCAD trading appeared virtually nonexistent overnight, so much so that if the currency pair was a hospital patient, the flat-line performance would have had nurses screaming "code red-loonie." Meanwhile ,the AUDUSD slipped lower, USDJPY stalled near the recent high, EURUSD looked soft and GBPUSD soared. Cable rose on better than expected UK employment and a hawkish QIR, suggested higher rates, sooner..There isn’t any data of note from the US or Canada

The short term USDCAD technicals are unchanged. They are bullish while trading above 1.0480 with a break above 1.0505-15 targeting a move to 1.0550,. For today, USD support is at 1.0480 and 1.0460. Resistance is at 1.0505 and 1.0515

Today’s Range 1.0480-1.0505

Categories FX, Foreign Exchange, Currency, Canadian Dollar

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