USD/CAD Overview
Posted by avafx on May 19, 2009
According to latest Forex updates, on Tuesday the CAD (USD/CAD) declined to the LFB S1 (1.1555) even from the early part of the overnight session. The pair attempted a number of times but was incapable to break anywhere lower from there. The CAD continued trading in the same area, trying to find a way, during tonight’s Asian session.
During the Tuesday trading session the Swissy (USD/CHF) fell down 50 pips, moving in order with the overall market course. In the 2nd half of the day, the Swissy tested the 1.1000 support area where it got discarded during Tuesday’s evening session. Further lowering for the Swissy will rely on momentum during the next overnight session.
On Tuesday the Yen (USD/JPY) seems fighting most of the time to rise above the resistance trend-line that links the 03.19 and the 04.28 lows. However, the move never came since the S&P futures traded only side-ways, being not able to provide strong support for the pair. Breaking below the Tuesday’s low the yen lost 20 pips during the Asian session, tonight.
