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11 Apr 2013
Forex: USD/CAD stays down after US, Canadian data
FXstreet.com (Córdoba) - The Canadian dollar held pretty steady and continues to consolidate gains versus the greenback after the latest string of US and Canadian showed US jobless claims declined more than expected last week to 346K, while Canadian house prices rose slightly in February.
USD/CAD barely reacted to the data and held below the 1.0100 mark. The pair is currently trading around 1.0090, where it is 0.5% below its opening price, having hit a 2-month low of 1.0082 during the European session.
In terms of technical levels, next supports for USD/CAD are seen at 1.0080 and 1.0035 (100-day SMA), while resistances could be faced at 1.0110 (intraday level) and 1.0160 (100-hour SMA).
USD/CAD barely reacted to the data and held below the 1.0100 mark. The pair is currently trading around 1.0090, where it is 0.5% below its opening price, having hit a 2-month low of 1.0082 during the European session.
In terms of technical levels, next supports for USD/CAD are seen at 1.0080 and 1.0035 (100-day SMA), while resistances could be faced at 1.0110 (intraday level) and 1.0160 (100-hour SMA).