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Forex: USD/CAD back below 1.0200

By FXstreet.com,  December 01, 2011, 05:26:00 AM EDT

FXstreet.com (Barcelona) - The post-rate cut plunge corrective movement pulled the pair up steadily, having returned above 1.0200 for a brief time, to a high of 1.0223. As a new downward movement for the greenback is taking place, the USD/CAD fell again under the 1.0200 level and is currently operating around 1.0190.

Relevant fundamental data for the pair will be released during the American session, including Jobless Claims, ISM Index, Construction Spending and Vehicle Sales.

Mataf.net analysts point to a bearish USD/CAD, finding resistances at 1.0210, 1.0260 and 1.0365. As for supports, they may be found at 1.0170, followed by 1.0120 and 1.0075.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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