FXstreet.com (Barcelona) - After the recent data in the United States, the greenback has continued to trade evenly against its Canadian rival in afternoon European trading Monday. In the US., the Markit manufacturing PMI index gave a result of +52.5, versus expectations of +53.0 and +54.0 in the previous month. Given the lack of data or indicators coming out of Canada today, the price of crude has become a flashpoint for the pair, which has presently settled at USD $83.76 or -1.41%.
According to the technical analysts ICN.com, "Stability below 1.0200 keeps the negative outlook intact and the indicators of a linear regression are negative. Similarly, there are signs of oversold areas and no reversal signals – as such we hold onto our bearish weekly expectations.”
The cross is trading around 1.0162, advancing +0.02% currently. The next short-term resistance of 1.0200, 1.0290 and finally 1.0310. On the flip side, the pair find support levels at 1.0120, 1.0045, then 1.0000.
According to the technical analysts ICN.com, "Stability below 1.0200 keeps the negative outlook intact and the indicators of a linear regression are negative. Similarly, there are signs of oversold areas and no reversal signals – as such we hold onto our bearish weekly expectations.”
The cross is trading around 1.0162, advancing +0.02% currently. The next short-term resistance of 1.0200, 1.0290 and finally 1.0310. On the flip side, the pair find support levels at 1.0120, 1.0045, then 1.0000.
