Australia Mar New Motor Vehicle Sales (MoM) decreases to -0.6% vs 0%

The USD/CAD finished the day sharply higher, as safe haven flows into the pair helped it close at its highest level since late March 2013. According to Shaun Osborn, Chief FX Strategist at TDS, “The sharp extension higher in spot in the overnight market has been powerful, pushing through minor trend resistance in the upper 1.01 area. But, so far, resistance around 1.0235 has held. We look for support now on dips to the 1.0180 area intraday. A push through 1.0235 is bullish from a short-term point of view (and beyond in all likelihood).”