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27 Sep 2013
USD/CAD at the void of losing the 1.03 zone
FXstreet.com (Chicago) - USD/CAD continues printing lower highs and lows and approaches the 1.03 downward limits. On debt-ceiling concerns, the equity markets in the US lost the 3-week winning strike.
Bearish Wall Street
The Dow was down 0.46% while the Nasdaq printed 0.15% lows and the S&P500 retraced 0.41%. Amid concerns on US federal budget and debt-ceiling, the dollar weakened against a stronger loonie.
USD/CAD Technical Levels
Technically speaking, the pair trades at 1.0302 and navigates between supports aligned at 1.0291 (September 23rd highs), 1.0257 (July 30th lows) ahead of 1.0224 (June 15th highs) and the supports set at 1.0321 (September 25th highs), 1.0347 (August 19th highs) followed by 1.0378 (September 6th lows). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis and is offered below the EMA20.
Bearish Wall Street
The Dow was down 0.46% while the Nasdaq printed 0.15% lows and the S&P500 retraced 0.41%. Amid concerns on US federal budget and debt-ceiling, the dollar weakened against a stronger loonie.
USD/CAD Technical Levels
Technically speaking, the pair trades at 1.0302 and navigates between supports aligned at 1.0291 (September 23rd highs), 1.0257 (July 30th lows) ahead of 1.0224 (June 15th highs) and the supports set at 1.0321 (September 25th highs), 1.0347 (August 19th highs) followed by 1.0378 (September 6th lows). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis and is offered below the EMA20.