30 Dec 2013
USD/CAD erases Friday's gains
FXstreet.com (Córdoba) - Following a phase of consolidation, the USD/CAD came under pressure and fell sharply during the New York session.
The USD/CAD lost more than 80 pips throughout the day and completely reversed last Friday's gains, dipping to a low of 1.0635 in recent dealings. At time of writing, the USD/CAD is trading at the 1.0640 zone, recording a 0.6% loss since opening.
USD/CAD technical levels
In terms of technical levels, the USD/CAD could face immediate supports at 1.0635 (daily low), 1.0618 (Dec 27 low) and 1.0600 (psychological level). On the other hand, resistances are seen at 1.0645 (100-day SMA), 1.0700 (psychological level) and 1.0726 (daily high).
The USD/CAD lost more than 80 pips throughout the day and completely reversed last Friday's gains, dipping to a low of 1.0635 in recent dealings. At time of writing, the USD/CAD is trading at the 1.0640 zone, recording a 0.6% loss since opening.
USD/CAD technical levels
In terms of technical levels, the USD/CAD could face immediate supports at 1.0635 (daily low), 1.0618 (Dec 27 low) and 1.0600 (psychological level). On the other hand, resistances are seen at 1.0645 (100-day SMA), 1.0700 (psychological level) and 1.0726 (daily high).