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22 Nov 2013
USD/CAD reaches 4-month peak, eyes 2013 high
FXstreet.com (Córdoba) - The USD/CAD rose for a second day Friday and having broken above the 1.0500 mark, it managed to completely retrace September drop.
USD/CAD gains ahead of Canadian CPI, retail sales
The USD/CAD extended gains to a 4-month high of 1.0568 during the European session as the loonie remains under pressure despite recent oil surge. At time of writing, the USD/CAD is trading at the 1.0560 area, recording a 0.4% gain on the day ahead of a bunch of Canadian indicators, including October CPI and retail sales.
USD/CAD technical levels
As for technical levels, immediate resistances for USD/CAD are seen at 1.0568 (daily high) and 1.0573 (Jul 9 high) ahead of 1.0607 (2013 high Jul 5). On the downside, supports could be found at 1.0530 (21-hour SMA) and 1.0514 (daily low) ahead of 1.0500 (psychological level).
USD/CAD gains ahead of Canadian CPI, retail sales
The USD/CAD extended gains to a 4-month high of 1.0568 during the European session as the loonie remains under pressure despite recent oil surge. At time of writing, the USD/CAD is trading at the 1.0560 area, recording a 0.4% gain on the day ahead of a bunch of Canadian indicators, including October CPI and retail sales.
USD/CAD technical levels
As for technical levels, immediate resistances for USD/CAD are seen at 1.0568 (daily high) and 1.0573 (Jul 9 high) ahead of 1.0607 (2013 high Jul 5). On the downside, supports could be found at 1.0530 (21-hour SMA) and 1.0514 (daily low) ahead of 1.0500 (psychological level).