CAD Crosses At A Glance
Matt Simpson | Aug 17, 2018 10:50
With markets expecting the Bank of Canada to hike in October, today's CPI data from Canada is a core focus for markets. We take a look at USD/CAD, GBP/CAD and NZD/CAD daily charts to highlight key levels.
USD/CAD Daily
- Compressing beneath the June retracement line ahead of today’s CPI data.
- A break of 1.3114 or 1.3175 could mark the beginning of its next directional move.
- A break above retracement line assumes resumption of the bullish trend.
GBP/CAD
- Trend remains bearish, a break of 1.6589 confirms resumption of the trend.
- Currently consolidating between the November 2017 and January 2018 lows.
- A break above 1.6806 would provide a counter-trend signal over the near-term.
NZD/CAD Daily
- Currently retracing after breaking to a near 3-year low.
- Trend remains bearish but the December lows (0.8682/90) could prove pivotal over the near-term.
- At current levels the cross is on track for a weekly bullish pinbar.
Get The App
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.