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4 Aug 2014
USD/CAD falls toward 1.0900
FXStreet (Córdoba) - The USD/CAD peaked on Monday at 1.0932 but then lost momentum and turned to the downside. In the last hours it has been moving slow with a bearish bias. Recently hit a fresh low at 1.0904 and remains near 1.0900 ahead of the Asian session.
USD/CAD unable to move away from the 1.0900 area
The pair is about to post the fourth daily close in a row near 1.0900. After rallying during July from 1.0630 to 1.0942 (last week high) lost steam and consolidated, making a moderate correction.
The short term trend is still bullish but is not showing the same strength as it had a week ago. Next Friday, key economic data from Canada will be release with the employment report that is likely to generate volatility in the USD/CAD.
USD/CAD unable to move away from the 1.0900 area
The pair is about to post the fourth daily close in a row near 1.0900. After rallying during July from 1.0630 to 1.0942 (last week high) lost steam and consolidated, making a moderate correction.
The short term trend is still bullish but is not showing the same strength as it had a week ago. Next Friday, key economic data from Canada will be release with the employment report that is likely to generate volatility in the USD/CAD.