US retail sales gave the pair a kick to 1.0991 where is was met by corporate sellers looking armed and dangerous. Corporates in the oil game are said to be leading the frontline up there as the spot date is oil pricing day so there’s some hedging to be done.
Canadian home price data was also released just now and it showed priced remained steady in March but fell slightly on the year. The Teranet/National bank HPI came in at 0.0% vs 0.3% prior m/m and 4.6% vs 5.0% priory/y. That will go some way into taking some of the heat out of the central banks watch on prices.
So 1.1000 is the number to watch on the upside but we’re still in a bit of limbo tech wise. The 100 dma is looking to provide a base at 1.0914 and a break back above the big figure sees decent technical resistance at 1.1059
USD/CAD daily chart 14 04 2014
There are decent offers in wait ahead of 1.10 and decent option action (500m) there too. I’ll have the detailed orders up as anbd when I get them.
