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Forex: USD/CAD back to 1.0400

By FXstreet.com,  June 01, 2012, 10:40:00 AM EDT

FXstreet.com (Barcelona) - After the huge rally to 1.0442 high on very concerning US labor market data and lower Canadian GDP, the pair plunged to 1.0353 session low as the market realize the increased chances of QE3 in the US.

As time passes, the USD/CAD is trying to stabilize around 1.0400 psychological level.

Mataf.net analysts point to resistances at 1.0400, 1.0420 and 1.0490. On the downside, supports might be found at 1.0365, 1.0325 and 1.0260.




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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