FXstreet.com (San Francisco) - The USD/CAD pair recorded fresh three-month lows this Friday, having pushed below support at the 1.0000 handle to extend as low as 0.9980.
At the time of writing, the pair is quoted in the 0.9990 price zone, down 0.8% on the day ahead of the closing bell and down 0.5% for the week
“USD/CAD’s heavy losses today after grinding out three consecutive days’ worth of gains are something of a disappointment for our bullish bias,” says TD Securities.
Technically speaking, TD adds: “Channel support holding up on a closing basis today will be a small positive but the USD really needs to get back through 1.0100/10 (200-day MA at 1.0107 today) in order to steady. Absent that, retracement support at 0.9953 looks reachable.”
At the time of writing, the pair is quoted in the 0.9990 price zone, down 0.8% on the day ahead of the closing bell and down 0.5% for the week
“USD/CAD’s heavy losses today after grinding out three consecutive days’ worth of gains are something of a disappointment for our bullish bias,” says TD Securities.
Technically speaking, TD adds: “Channel support holding up on a closing basis today will be a small positive but the USD really needs to get back through 1.0100/10 (200-day MA at 1.0107 today) in order to steady. Absent that, retracement support at 0.9953 looks reachable.”
