12 Jan 2015
USD/CAD hits fresh daily lows
FXStreet (Mumbai) - The Canadian dollar climbs higher versus the US counterpart, snapping two consecutive days of losses, despite tumbling oil prices.
Currently, the USD/CAD pair hits fresh intraday low at 1.1839, down -0.22% on the day, retreating from day’s high of 1.1866 levels hit in earlier in the day. The USD/CAD edged lower as the US bulls took a back foot versus its major counterparts. The US dollar index, measuring the relative strength of the greenback against a basket of six major currencies, retreated from nine-year highs levels and trades now at 91.99, down -0.21% on the day.
Moreover, the USD/CAD pair shrugged off any impact of sliding oil prices and downbeat Canadian data released last Friday.
USD/CAD Technical Levels
To the upside, the next resistance is located at 1.19 levels and above which it could extend gains 1.1951 levels. To the downside immediate support might be located at 1.18 levels, below that at 1.1760 levels.
Currently, the USD/CAD pair hits fresh intraday low at 1.1839, down -0.22% on the day, retreating from day’s high of 1.1866 levels hit in earlier in the day. The USD/CAD edged lower as the US bulls took a back foot versus its major counterparts. The US dollar index, measuring the relative strength of the greenback against a basket of six major currencies, retreated from nine-year highs levels and trades now at 91.99, down -0.21% on the day.
Moreover, the USD/CAD pair shrugged off any impact of sliding oil prices and downbeat Canadian data released last Friday.
USD/CAD Technical Levels
To the upside, the next resistance is located at 1.19 levels and above which it could extend gains 1.1951 levels. To the downside immediate support might be located at 1.18 levels, below that at 1.1760 levels.