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19 Feb 2013
Forex: USD/CAD toying with 1.0130
The Canadian dollar is accelerating its negative momentum against the buck on Tuesday, flirting with the 1.0130 level and printing fresh 7-month lows at the same time.
Ahead in the day, the Canadian docket will release the Canadian Portfolio Investment and the Wholesale Sales (expected to contract 0.4% in December).
At the moment, the cross is gaining 0.21% at 1.0128 facing the next hurdle at 1.0132 (low Jul.23) ahead of 1.0135 (61.8% of 1.0446-0.9633) and then 1.0200 (psychological level).
On the downside, a breach of 1.0055 (low Feb.18) would expose 1.0035 (MA10d) and then 1.0015 (MA21d).
Ahead in the day, the Canadian docket will release the Canadian Portfolio Investment and the Wholesale Sales (expected to contract 0.4% in December).
At the moment, the cross is gaining 0.21% at 1.0128 facing the next hurdle at 1.0132 (low Jul.23) ahead of 1.0135 (61.8% of 1.0446-0.9633) and then 1.0200 (psychological level).
On the downside, a breach of 1.0055 (low Feb.18) would expose 1.0035 (MA10d) and then 1.0015 (MA21d).