Canadian dollar (CAD), Daily Review, March 15th 2010

on March 15 2010 7:06 AM

The Canadian Dollar continued to strengthen against the Dollar after better than expected data coming out and expectations for the central bank will raise interest rates. Employment Change came out 20.9K vs. expected 18K and the Unemployment rate came out 8.2% vs. expected 8.3%. For a short term, a technical adjustment might be seen because of oversold conditions of the pair. Overall, USD/CAD traded with a low of 1.0153 and with a high of 1.0249. Today, no major economic data is expected.

USD/CAD - Last: 1.0180

Resistance

1.0192

1.0220

1.0245

Support

1.0163

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