Loonie sidelined as USDJPY churns 6Nov14


Loonie sidelined as USDJPY churns

USDCAD Open 1.1398-03 Overnight Range 1.1381-1.1412

USDCAD trading was subdued in the face of a rather volatile Asian session which saw USDJPY crash through reported barriers at 1.1500, touch 1.1550 and retreat back to where it all started. AUDUSD got a short lived bump from better than expected employment data. The ECB is the early focus. Canadian data includes Building Permits and Ivey PMI.

The intraday USDCAD technicals are bullish while trading above 1.1380 but needs a break above 1.1420 to extend gains to 1.1475. A move below 1.1380 risks a return to 1.1320. For today, UASDCAD support is at 1.1380, 1.1360 and 1.1340. Resistance is at 1.1420, 1.1440 and 1.1470

Today’s Range 1.1.1360

Categories FX, Foreign Exchange, Currency, Canadian Dollar

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