# USD/CAD: Trading the Ivey PMI Release (May 6, 2013) Source: https://www.tradersway.com/resources/market-info/usd-cad-trading-the-ivey-pmi-release-may-6-2013/ Language: en Updated: 2013-05-06 Description: Explore USD/CAD: Trading the Ivey PMI Release (May 6, 2013). After. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. After last week’s strong selloff, USD/CAD is currently stalling around the 1.0075 resistance turned support level. This is in line with the 50% Fibonacci retracement on the 4-hour time frame. During the previous release, the Ivey PMI came in much stronger than expected at 61.6. For the month of April, the Ivey PMI is projected to dip to 58.3, reflecting a slight slowdown in the manufacturing industry. ![USD/CAD: Trading the Ivey PMI Release (May 6, 2013)] A weaker than expected reading could trigger a bounce from USD/CAD’s current levels back above 1.0100 while another strong reading might push USD/CAD to the next support level near 1.0020. Take not that this is in line with a former resistance area and is the 38.2% Fibonacci level. Stochastic is pointing down, indicating a potential move south, but the oscillator could turn as USD/CAD finds support at any of the Fib levels. A stop below parity with a target around 1.0100 to 1.0150 would yield a decent reward-to-risk ratio. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/usd-cad-trading-the-ivey-pmi-release-may-6-2013/#primary", "url": "https://www.tradersway.com/resources/market-info/usd-cad-trading-the-ivey-pmi-release-may-6-2013/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/usd-cad-trading-the-ivey-pmi-release-may-6-2013/", "headline": "USD/CAD: Trading the Ivey PMI Release (May 6, 2013)", "inLanguage": "en", "datePublished": "2013-05-06T09:44:45+00:00", "dateModified": "2013-05-06T09:44:45+00:00", "articleSection": "Market Info", "description": "Explore USD/CAD: Trading the Ivey PMI Release (May 6, 2013). After. 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