7 Apr 2014
USD/CAD fails to sustain gains
FXStreet (Córdoba) - The USD/CAD failed to sustain gains above 1.1000 and came under pressure during the American session as the greenback weakens across the board.
The USD/CAD fell back to square one after the latest recovery attempt was capped by the 1.0010 zone with the US dollar underperforming in a light session. At time of writing, the USD/CAD is trading at the 1.0980 area, virtually unchanged since opening.
USD/CAD levels to watch
In terms of technical levels, the USD/CAD could find immediate resistances at 1.1009 (Apr 7 high), 1.1044 (10-day SMA) and 1.1070 (Apr 1 high). On the other hand, supports are seen at 1.0965 (Apr 7 low), 1.0956 (Apr 4 low) and 1.0909 (Feb 19 low).
The USD/CAD fell back to square one after the latest recovery attempt was capped by the 1.0010 zone with the US dollar underperforming in a light session. At time of writing, the USD/CAD is trading at the 1.0980 area, virtually unchanged since opening.
USD/CAD levels to watch
In terms of technical levels, the USD/CAD could find immediate resistances at 1.1009 (Apr 7 high), 1.1044 (10-day SMA) and 1.1070 (Apr 1 high). On the other hand, supports are seen at 1.0965 (Apr 7 low), 1.0956 (Apr 4 low) and 1.0909 (Feb 19 low).