10 Mar 2015
USD/CAD hits 2-week high at 1.2649
FXStreet (Mumbai) - USD/CAD advanced to fresh two week highs in the Asian session, snapping its range movement from the previous session mainly driven by a broadly stronger US dollar.
USD/CAD supported above 1.26 barrier
Currently, the USD/CAD trades higher by 0.25% at 1.2636 levels, having previously posted a new two week high at 1.2649. The pair inched higher and remained well bid above 1.2600 levels as the USD bulls continued to dominate across the board pushing USD/CAD higher.
Moreover, the strength in the pair was also seen on a weaker Canadian dollar after Canadian housing starts disappointed, dropped to 156,276 units.
Meanwhile, traders are closely monitoring the US retail sales data due on Thursday and US consumer sentiment and Canadian employment data release scheduled on Friday for fresh insights on the pair.
USD/CAD Technical Levels
To the upside, the next resistance is located at 1.2678 levels and above which it could extend gains 1.2700 levels. To the downside immediate support might be located at 1.2600 levels, below that at 1.2571 levels.
USD/CAD supported above 1.26 barrier
Currently, the USD/CAD trades higher by 0.25% at 1.2636 levels, having previously posted a new two week high at 1.2649. The pair inched higher and remained well bid above 1.2600 levels as the USD bulls continued to dominate across the board pushing USD/CAD higher.
Moreover, the strength in the pair was also seen on a weaker Canadian dollar after Canadian housing starts disappointed, dropped to 156,276 units.
Meanwhile, traders are closely monitoring the US retail sales data due on Thursday and US consumer sentiment and Canadian employment data release scheduled on Friday for fresh insights on the pair.
USD/CAD Technical Levels
To the upside, the next resistance is located at 1.2678 levels and above which it could extend gains 1.2700 levels. To the downside immediate support might be located at 1.2600 levels, below that at 1.2571 levels.