28 Oct 2013
USD/CAD settles below 1.0450
FXstreet.com (Córdoba) - FXstreet.com (Córdoba) - After reaching a 7-week high of 1.0460, the USD/CAD lost momentum and entered in a consolidative phase as investors stay sidelined ahead of the Fed policy meeting next Wednesday.
The USD/CAD bounced from a daily low of 1.0428 but the recovery was capped by the 1.0450 area, confining the pair to a range just below where it has spent most of the day unable to set a fresh direction. At time of writing, USD/CAD is trading at the 1.0440 zone, virtually unchanged since opening.
USD/CAD technical levels
As for technical levels, immediate resistances are seen at 1.0460 (Oct 25 high) and 1.0500 (psychological level), while supports could be found at 1.0428 (daily low) and 1.0410 (Oct 25 low).
The USD/CAD bounced from a daily low of 1.0428 but the recovery was capped by the 1.0450 area, confining the pair to a range just below where it has spent most of the day unable to set a fresh direction. At time of writing, USD/CAD is trading at the 1.0440 zone, virtually unchanged since opening.
USD/CAD technical levels
As for technical levels, immediate resistances are seen at 1.0460 (Oct 25 high) and 1.0500 (psychological level), while supports could be found at 1.0428 (daily low) and 1.0410 (Oct 25 low).