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Forex: USD/CAD keeps the mood after Canadian data

By FXstreet.com,  January 09, 2013, 08:30:00 AM EDT

FXstreet.com (Barcelona) - The Loonie continues to trade around 0.9872 against the greenback on Wednesday, after Housing Starts in Canada fell to 198K during December from 201.4K in the previous month.

Improved risk-off tone in the markets has pushed the cross to tops above 0.9880 during the European morning, retracing some pips at the moment.

The cross is now advancing 0.07% at 0.9873
Next resistance levels line up at 0.9893 (MA21d) followed by 0.9899 (MA10d) and finally 0.9943 (high Jan.2).
On the flip side, a breakdown of 0.9836 (low Jan.2) would expose 0.9832 (low Dec.18) and then 0.9825 (low Dec.13).




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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