Sunday, January 30, 2011
USD / Canadian dollar: blocked at 50-day moving average
USD / Canadian dollar continues after the opening bell on Monday, Friday's upward trend, but the exchange rate hit 1.0027 high point in continuing decline, is now reported to 1.0004. Evening will be released today, GDP data in Canada in November, if the data is substantially better than expected Bank of Canada may raise interest rates again expected. Technically, USD / Canadian dollar is currently blocked in the 50-day moving average, below average support of 10 concerns, or since January 18 from the trend line.