By
GCI Financial |
Fundamental Analysis | Sep 20, 2011 08:36AM GMT |
Canadian dollar declined sharply against the greenback as renewed concerns over the Greece debt concerns diminished the appeal for high-yielding assets.
In the Asian session at 3:00GMT, USD is trading at 0.9930, 0.10% lower against the Canadian dollar from yesterday’s close at 23:00 GMT.
The first area of short term resistance is observed at 0.9980, followed by 1.0030 and 1.0169. The first area of support is at 0.9841, with the subsequent supports at 0.9752 and 0.9613.
Trading trends in the pair today are expected to be determined by release of wholesale sales data and leading indicators in Canada.
Please see the attached chart below...
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