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4 Oct 2013
USD/CAD stumbles to 1.0293 session lows
FXstreet.com (Chicago) - USD/CAD fell ahead of Wall Street closing below the 1.03 zone for a total daily loss at 0.36% amid speculations stating the US shutdown will come to an end this weekend.
Will the shutdown be over this weekend?
Amid the political paralysis in Washington and highly uneasy nerves as the country runs out of time for the debt deficit ceiling this incoming October 19th, market participants prepare for a potentially active weekend. Closing positions and stronger oil on tropical storms affective production, the pair extends lower lows and highs continuously printing new lows now at 1.0293.
USD/CAD Technical Levels
Technically speaking, the pair trades at 1.0293 and oscillates between supports aligned at 1.0273 (September 28th lows), 1.0221 (June 12th lows) followed by 1.0182 (September 18th lows) and the resistances set at 1.0316 (October 3rd lows), 1.0340 (September 26th highs) followed by 1.0364 (August 15th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.
Will the shutdown be over this weekend?
Amid the political paralysis in Washington and highly uneasy nerves as the country runs out of time for the debt deficit ceiling this incoming October 19th, market participants prepare for a potentially active weekend. Closing positions and stronger oil on tropical storms affective production, the pair extends lower lows and highs continuously printing new lows now at 1.0293.
USD/CAD Technical Levels
Technically speaking, the pair trades at 1.0293 and oscillates between supports aligned at 1.0273 (September 28th lows), 1.0221 (June 12th lows) followed by 1.0182 (September 18th lows) and the resistances set at 1.0316 (October 3rd lows), 1.0340 (September 26th highs) followed by 1.0364 (August 15th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.