21 Nov 2013
USD/CAD falters ahead of 1.0500
FXstreet.com (Córdoba) - The USD/CAD jumped to a 1-week high at the beginning of the American session as encouraging US data lifted the greenback.
USD/CAD reaches 1-week high
The USD/CAD broke above 1.0470, level that had been capping the pair over the last couple of days, and reached a 1-week high of 1.0493 before losing momentum ahead of the 1.0500 mark. At time of writing, USD/CAD is trading at the 1.0485 zone, recording a 0.3% gain on the day.
USD/CAD levels to watch
In terms of technical levels, the USD/CAD could find immediate resistances at 1.0500 (psychological level) and 1.0525 (Nov 14 high) ahead of 1.0560 (Sep 3 high). On the other hand, supports are now seen at 1.0445 (daily low), 1.0414 (Nov 18 & 19 lows) and 1.0400 (psychological level).
USD/CAD reaches 1-week high
The USD/CAD broke above 1.0470, level that had been capping the pair over the last couple of days, and reached a 1-week high of 1.0493 before losing momentum ahead of the 1.0500 mark. At time of writing, USD/CAD is trading at the 1.0485 zone, recording a 0.3% gain on the day.
USD/CAD levels to watch
In terms of technical levels, the USD/CAD could find immediate resistances at 1.0500 (psychological level) and 1.0525 (Nov 14 high) ahead of 1.0560 (Sep 3 high). On the other hand, supports are now seen at 1.0445 (daily low), 1.0414 (Nov 18 & 19 lows) and 1.0400 (psychological level).