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11 Jan 2017

USD/CAD sits above 1-hour 100-MA

Having rebounded from a sub-1.32 area fourth straight session on Tuesday, the USD/CAD pair extended gains in the Asian session today to trade above the 1-hour 200-MA level of 1.3242 levels.

Rejected at 1.3254

The spot clocked a high of 1.3252 before falling to 1-hr 200-MA level of 1.3242. The sell-off from the December 28 high of 1.3598 ran out of steam at a low of 1.3177 (Jan 6 low). Since then the bears have had a tough time keeping the pair under 1.32.

Oil price sell-off in the last two trading days also ensured the USD/CAD pair stays above 1.32. However, the uptick in oil prices in the Asian session capped gains in the USD/CAD pair at 1.3254 levels.

USD/CAD Technical Levels

A break above 1.3259 (100-DMA) would open the doors to 1.3278 (61.8% of Dec 14 low - Dec 28 high). A violation there could yield a rally to 1.3339 (50% of Dec 14 low - Dec 28 high). On the lower side, a breach of 1.3231 (5-DMA) would shift risk in favor of a drop to 1.32 (zero figure) and 1.3177 (Jan 6 low).

 

Jan 11, 2017

Rumors in Asia of China drastic capital flight measures ahead of Chinese New Year

Livesquawk reports latest rumors doing the rounds in markets, citing that there seems to be drastic capital flight measures implemented by China ahead
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Jan 11, 2017

NZD/USD rebounds in Asia, taps 0.7000

The New Zealand dollar made a solid comeback versus its American counterpart in the Asian trading this Wednesday, lifting NZD/USD to session highs jus
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