26 Sep 2013
USD/CAD hits 2-week highs
FXstreet.com (Córdoba) - The Loonie came under pressure during the New York session surrendering mild intraday gains versus the dollar as concerns over the US budget are favoring the greenback against riskier currencies.
The USD/CAD pushed higher and rallied toward its highest in 2 weeks at 1.0340, before losing momentum and pulling back slightly. The USD/CAD is printing its third consecutive daily gain Thursday, after a failure break below the 200-day SMA last week.
USD/CAD technical levels
At time of writing, USD/CAD is trading at the 1.0325 zone, recording a 0.1% rise since opening. As for technical levels, if the pair breaks above 1.0340, next resistances are seen at 1.0354 (100-day SMA) and 1.0370 (50% retracement of 1.0557/1.0182). On the other hand, supports are seen at 1.0260 (Sep 20 low) and 1.0222 (200-day SMA).
The USD/CAD pushed higher and rallied toward its highest in 2 weeks at 1.0340, before losing momentum and pulling back slightly. The USD/CAD is printing its third consecutive daily gain Thursday, after a failure break below the 200-day SMA last week.
USD/CAD technical levels
At time of writing, USD/CAD is trading at the 1.0325 zone, recording a 0.1% rise since opening. As for technical levels, if the pair breaks above 1.0340, next resistances are seen at 1.0354 (100-day SMA) and 1.0370 (50% retracement of 1.0557/1.0182). On the other hand, supports are seen at 1.0260 (Sep 20 low) and 1.0222 (200-day SMA).