Thursday, October 8, 2009

BMO Capital Markets: U.S. / Canada remains under pressure

Canadian dollar is now showing is not too good results compared with other currencies - a pair dollar / Canada again retreated from yesterday's 1.0533 low and established a sessional maximum on the level of 1.0576. As the currency analysts BMO Capital Markets, charts continue to indicate that the decrease in dollar / Canada is exhausted, but, in general, the pair continues to remain under pressure. As part of the downward movement of the dollar / Canadian bank's strategists believed that the region will 1.0480/1.0500 good initial support for the pair, after which the dollar / Canada falls to a level of 1.0350. Initial resistance in the pair are 1.0700 and 1.0750 levels. At the moment pair dollar / Canada is trading at around 1.0555.

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