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7 Mar 2013
Forex: USD/CAD falls below 1.0300
The USD/CAD is falling the last hour pressuring as the risk appetite environment is back on the upbeat speech made by ECB's Mario Draghi, confident in Eurozone's economic recovery, and the 40% repayment of the LTRO lending programme.
The USD/CAD has fallen 40 pips in the last minutes from 1.0320 to break down the 1.0300 zone and reach intra-day lows at 1.0280. Currently the pair is trading 0.30% negative on the day at 1.0285. MACD, CCI and Momentum are bearish while the Stochastic is bullish in the 15-minute chart.
Next support is at 1.0255 (low Mar.6) ahead the 1.0217 (low Feb.28). On the opposite direction, the recovery of the 1.0300 position will open the 1.0337 (high Mar.6), 1.0343 (2013 high Mar.1) and then 1.0363 (high Jun.28 2012).
The USD/CAD has fallen 40 pips in the last minutes from 1.0320 to break down the 1.0300 zone and reach intra-day lows at 1.0280. Currently the pair is trading 0.30% negative on the day at 1.0285. MACD, CCI and Momentum are bearish while the Stochastic is bullish in the 15-minute chart.
Next support is at 1.0255 (low Mar.6) ahead the 1.0217 (low Feb.28). On the opposite direction, the recovery of the 1.0300 position will open the 1.0337 (high Mar.6), 1.0343 (2013 high Mar.1) and then 1.0363 (high Jun.28 2012).