Forex: USD/CAD testing session highs, around 1.0040

The Canadian dollar is depreciating against the greenback on Wednesday, ahead of the US Retail Sales during January, expected to rise 0.1% from +0.5% in the previous month.
Very light docket in the Canadian economy ahead in the week would leave the attention towards the greenback, against the backdrop of the G20 meeting.

At the moment, the cross is advancing 0.07% at 1.0030 with the next resistance at 1.0044 (high Feb.13) ahead of 1.0088 (high Feb.12) and then 1.0091 (Upper Bollinger).
On the flip side, a breach of 1.0013 (low Feb.13) would expose 0.9995 (MA10d) and then 0.9992 (MA200d).

Feb 13, 2013

Forex: EUR/USD rallies above 1.3500 after talks of G-20

After pressing higher during the European morning, the EUR/USD finally returned to the 1.3500, hitting several market orders that allowed a move to 1.3520. The same reasoning is applied for the quick plunge to 1.3480 that followed. The pair continues to surround the 1.3500 handle.

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Feb 13, 2013

Forex Flash: Gilts sandwiched between 20-day MA and 115.75 support – RBS

According to Technical Markets Strategist Dmytro Bondar at RBS, “Gilts have stayed in a range between its 20-day MA and 115.75 support level. However, the 20-day moving average has been the main limiting factor for the market, capping any rallies since the end of January. Momentum is pretty neutral and slightly oversold even, as shown on the 20/5/5/3 oscillator, while the volume declined. The bias remains for an upside breakout, as if the 20-day MA is cleared, it could trigger a move to 117.20 onto possibly 117.78. Alternatively, a downside break would be a signal for a move to 115.67/51.”

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