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22 May 2013
USD/CAD establishing fresh session highs at 1.0322/28 after Canadian retail
FXstreet.com (Barcelona) - The USD/CAD rally has not lost steam during US trading Wednesday, after the pair broke higher to trade at fresh session highs at 1.0322/28, up +0.49% in these moments.
In Canada, Retail Sales (MoM) grew by 0.0%, missing expectations of +0.1% in March. In addition, Retail Sales ex Autos (MoM) reported a figure of -0.2% in March, vs. a projection calling for +0.2%.
“In looking at the USD/CAD, there is an important resistance at 1.0342, a break above which would be further positive, extending strength to 1.0447. Support is at 1.0217, which signifies a neutral outlook.” notes the UBS Research team.
In Canada, Retail Sales (MoM) grew by 0.0%, missing expectations of +0.1% in March. In addition, Retail Sales ex Autos (MoM) reported a figure of -0.2% in March, vs. a projection calling for +0.2%.
“In looking at the USD/CAD, there is an important resistance at 1.0342, a break above which would be further positive, extending strength to 1.0447. Support is at 1.0217, which signifies a neutral outlook.” notes the UBS Research team.