Forex: USD/CAD bounces at 1.0250

Following a negative movement from 1.0280, the USD/CAD found support at 1.0250, Monday March 11 bottom. At this point, the pair bounced to test the new resistance of 1.0270. Currently the pair is trading at 1.0260, almost flat on the day.

The USD/CAD's trend index is slightly bullish, Momentum indicator is bullish while CCI is bearish. MACD, Stochastic and RSI are neutral according to the Fxstreet.com Forex Studies. The USD/CAD would face resistances at 1.0270, 1.0280 and 1.0300.

On the downside, the pair's supports come at 1.0250, 1.0230 and 1.0215.

Mar 12, 2013

Forex Flash: Advanced economies underpin weak performance – NAB

The soft patch seen in global activity through the middle of last year resulted in an increase in the amount of idle capacity in the big advanced economies. By the end of 2012 around 20% of industrial capacity in the G7 was lying unused but unemployment had not risen in step with this softening in the pace of growth. The G7’s unemployment rate has been around 8.5% since early 2011 with a fall in the US jobless rate offsetting higher unemployment in the Euro-zone.

Forex: USD/MXN bouncing off lows after Mexican data

The Mexican peso found selling interest despite the better data from the Mexican industrial production during January, expanding 1.1% MoM and 1.7% on a yearly basis, beating both...