13 Dec 2013
USD/CAD consolidates after yesterday's rally
FXstreet.com (Córdoba) - The USD/CAD has wavered between small losses and gains Friday and continues to consolidate within familiar ranges following yesterday's rally.
In the absence of indicators, the only release was a softer-than-expected US PPI during the New York trade, the USD/CAD has moved sideways most of the day, unable to set a fresh direction as investors refrain from taking big positions heading into the weekend and ahead of Fed's meeting next week. The pair bottomed out at 1.0624 in Asia and then rose to 1.0668 to finally settle around mid-range at the 1.0640 zone, where it is little changed on the day.
USD/CAD technical levels
In terms of technical levels, the USD/CAD could find immediate resistances at 1.0668 (daily high) and 1.0700 (psychological level) ahead of 1.0706 (2013 high Dec 4). On the other hand, supports are seen at 1.0624 (daily low) and 1.0600 (psychological level).
In the absence of indicators, the only release was a softer-than-expected US PPI during the New York trade, the USD/CAD has moved sideways most of the day, unable to set a fresh direction as investors refrain from taking big positions heading into the weekend and ahead of Fed's meeting next week. The pair bottomed out at 1.0624 in Asia and then rose to 1.0668 to finally settle around mid-range at the 1.0640 zone, where it is little changed on the day.
USD/CAD technical levels
In terms of technical levels, the USD/CAD could find immediate resistances at 1.0668 (daily high) and 1.0700 (psychological level) ahead of 1.0706 (2013 high Dec 4). On the other hand, supports are seen at 1.0624 (daily low) and 1.0600 (psychological level).