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Forex: USD/CAD fails to hold above 1.0200

By FXstreet.com,  November 22, 2010, 03:39:00 PM EDT

FXstreet.com (Córdoba) - USD/CAD moved away from session highs and fell back below 1.0200 after being unable to break above Friday's highs. The pair peaked at 1.0215 and retreated afterwards to 1.0180. Currently trades at 1.0182/86, 0.18% above today's opening price.

According to Fan Yang, Chief Technical Strategist at FXTimes resistance levels lie at 1.0260 and 1.0340 while support lies at 1.0150; 1.0100 and 1.0000, "target if 1.0110 then 1.009 is broken".

On Tuesday important data from the Canadian economy will be release. At 12:00 GMT the Bank of Canada will publish inflation data of October and at 13:30 Statistics Canada will announce the volume of retails sales for the month of September.




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

Referenced Stocks:



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