USD/CAD: rate non-slip support

FXStreet – The buying interest around the canadian Dollar a take a breather. So conquered the currency pair USD/CAD to the area in 1,3645 after day-to-day low earlier at 1.3600 was marked.

The currency pair tested the week to kick-off a new 3-week lows around 1.3600 for. As a result, the selling pressure a bit, and the Greenback climbed back in the American business 1,3645/50.

Price of a burden were the persistent, strong bids around the Oil prices, which had boosted the canadian Dollar. The US variety of West Texas Intermediate submitted since the March lows at around 43,70 dollars a good 14 percent.

In addition, the yields in the United States due to the last disappointing precipitated economic data. At the same time, the probability for a Fed rate hike at the June meeting, fell.

In contrast, the canadian Dollar (CAD) remains due to the positioning under pressure. So, the net-Short positions of speculative investors in the week to 09. May to new extreme levels like how the CFTC announced on Friday.

The economic data from the United States were today, again does not convince. The much acclaimed early indicator, the Empire State Index for the U.S. state of New York, fell for the month-to-date on -1,00 points. The NAHB housing market index surprised, however, positive.

USD/CAD in the short term bearish
Fed remains on higher interest rates
Morgan Stanley’s U.S. Index ARIA sends a warning signal!

USD/CAD – Major course marks

The Couple listed recently on 1,3654 and to 0.46 percent in the Minus. The next supports lie at 1,3602 (Tief 15. May), 1,3575 (Fibo 23.6%) and 1,3528 (Deep 25. April). Resistors, on the other hand, 1,3743 (12. May), 1,3772 (High 11. May) and 1,3795 (High-05. To find may 2017).

** FXStreet News Editorial, FXStreet**

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