18 Feb 2015
USD/CAD posts fresh session highs
FXStreet (Mumbai) - USD/CAD climbed to fresh session highs in the early European morning, as the USD bulls jumped back into the bids after a brief reversal seen in the previous session on bearish US macro data.
USD/CAD regains 1.2400 levels
Currently, the USD/CAD trades higher by 0.17% at fresh session highs of 1.2412 levels. The pair advanced this morning, as traders preferred to hold on to the reserve currency USD before the release of Feds meeting minutes later today. Moreover, the greenback regained lost ground versus major counterparts after downbeat New York Manufacturing numbers pulled the buck lower. The US dollar index, which measures the relative strength of the greenback versus six major currencies, also rallied to new daily highs at 94.29, up 0.15% on the day.
USD/CAD Technical Levels
To the upside, the next resistance is located at 1.2479 levels and above which it could extend gains 1.2506 levels. To the downside immediate support might be located at 1.2380 levels, below that at 1.2310 levels.
USD/CAD regains 1.2400 levels
Currently, the USD/CAD trades higher by 0.17% at fresh session highs of 1.2412 levels. The pair advanced this morning, as traders preferred to hold on to the reserve currency USD before the release of Feds meeting minutes later today. Moreover, the greenback regained lost ground versus major counterparts after downbeat New York Manufacturing numbers pulled the buck lower. The US dollar index, which measures the relative strength of the greenback versus six major currencies, also rallied to new daily highs at 94.29, up 0.15% on the day.
USD/CAD Technical Levels
To the upside, the next resistance is located at 1.2479 levels and above which it could extend gains 1.2506 levels. To the downside immediate support might be located at 1.2380 levels, below that at 1.2310 levels.