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2 Apr 2014
USD/CAD in congestion on 1.1030
FXStreet (Guatemala) - Currently, USD/CAD is trading at 1.1034, up 0.10% on the day, having posted a daily high at 1.1049 and low at 1.1002.
The USD is making some ground on a number of bullish developments in the US, breaking down through the 1.38 handle. ADP Employment Change (March) read 191K vs 195K expected. This is positive as it was close to expectations, spurring hopes for a firm US employment report on Friday. The consensus estimate there for Nonfarm payrolls on Friday is for a rise of 200,000. Then, US factory orders rose 1.6% in February, and the market was expecting just a 1.2% rise.
RSI in neutral territory
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish. At the time of writing, RSI is neutral at 58.21, up from 51.64 at the last hour close, while ADX is ranging at 17.03, down from 21.59 previous. Meanwhile, daily RSI is in neutral territory at 43.06. On the hourly USD/CAD chart, the 200 SMA is declining and currently at 1.1040, down from the previous hour close at 1.1110. On average, the exponential closing price for the past 20 days is 1.1099, with the trend indicating a continuation lower ahead.
USD/CAD Levels
With spot trading at 1.1035, we can see next resistance ahead at 1.1036 (Daily Classic PP), 1.1041 (Hourly 100 SMA), 1.1049 (Daily High), 1.1060 (Daily Classic R1) and 1.1072 (Yesterday's High). Support below can be found at 1.1029 (Hourly 20 EMA), 1.1024 (Daily Open), 1.1024 (Weekly Low), 1.1011 (Yesterday's Low) and 1.1002 (Daily Low).
The USD is making some ground on a number of bullish developments in the US, breaking down through the 1.38 handle. ADP Employment Change (March) read 191K vs 195K expected. This is positive as it was close to expectations, spurring hopes for a firm US employment report on Friday. The consensus estimate there for Nonfarm payrolls on Friday is for a rise of 200,000. Then, US factory orders rose 1.6% in February, and the market was expecting just a 1.2% rise.
RSI in neutral territory
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish. At the time of writing, RSI is neutral at 58.21, up from 51.64 at the last hour close, while ADX is ranging at 17.03, down from 21.59 previous. Meanwhile, daily RSI is in neutral territory at 43.06. On the hourly USD/CAD chart, the 200 SMA is declining and currently at 1.1040, down from the previous hour close at 1.1110. On average, the exponential closing price for the past 20 days is 1.1099, with the trend indicating a continuation lower ahead.
USD/CAD Levels
With spot trading at 1.1035, we can see next resistance ahead at 1.1036 (Daily Classic PP), 1.1041 (Hourly 100 SMA), 1.1049 (Daily High), 1.1060 (Daily Classic R1) and 1.1072 (Yesterday's High). Support below can be found at 1.1029 (Hourly 20 EMA), 1.1024 (Daily Open), 1.1024 (Weekly Low), 1.1011 (Yesterday's Low) and 1.1002 (Daily Low).