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4 Jul 2014
USD/CAD posts fourth weekly loss in a row
FXStreet (Córdoba) - The pair is slightly higher on Friday but remains calm, consolidating a modest weekly loss. Yesterday the USD/CAD bottomed at 1.0619, reaching the lowest price since January 6 but then rebounded and trimmed losses. The Canadian dollar was among the best performers during the week and rose versus Greenback, despite NFP.
A weak ago the USD/CAD was trading at 1.0664 and currently is hovering around 1.0650, on its way toward the fourth weekly decline in a row, extending the bearish movement that started after the pair was unable to hold above 1.0900 early in June.
USD/CAD still bearish, but in a 4-day range
The trend continues to favor the downside in the USD/CAD. Despite hitting fresh 6-month lows yesterday, since Tuesday the pair is consolidating above 1.0620, moving in a range around 1.0650, with resistance at 1.0680.
A weak ago the USD/CAD was trading at 1.0664 and currently is hovering around 1.0650, on its way toward the fourth weekly decline in a row, extending the bearish movement that started after the pair was unable to hold above 1.0900 early in June.
USD/CAD still bearish, but in a 4-day range
The trend continues to favor the downside in the USD/CAD. Despite hitting fresh 6-month lows yesterday, since Tuesday the pair is consolidating above 1.0620, moving in a range around 1.0650, with resistance at 1.0680.