Friday, March 19, 2010

USDCAD Market Thought 19032010

Disappointing numbers again today:

Core CPI increased by 0.7% compared with median estimates of 0.3% and the prior reported estimate of 0.1%, while compared with a year earlier, core CPI increased by 2.1% following the prior reported rise of 2.0% and compared with median estimates of 1.7%. Next support 0.9994, 0.9924 and major support weekly chart 0.98.

Technical analysis

Nothing new last sessions. Last update here Trend bearish all time frames. Resistances: 1.0220, 1.0340 and 1.0390. Close last week below 1.0220 expect 0.9994 possible extension 0.98 ( support weekly chart). Chart here Good luck