14 Jul 2014
USD/CAD hits fresh 3-week highs
FXStreet (Córdoba) - The USD/CAD extended gains in a quiet Asian session, reaching a 3-week high, as the loonie continues to suffer on the back of disappointing unemployment data released Friday.
With investors mainly sidelined at the start of the week, the USD/CAD moved modestly higher and hit a high of 1.0746, last seen Jun 26. There is no much ahead in terms of economic data for today and focus turns to Fed Chairwoman semiannual testimony before Congress on Tuesday and Wednesday.
USD/CAD technical levels
At time of writing, the USD/CAD is trading at 1.0740, with immediate resistances seen at 1.0750 (38.2% of Jun/Jul fall) and 1.0806 (200-day SMA). On the other hand, supports could be found at 1.0725 (Jul 14 low), 1.0630 (Jul 11 low) and 1.0619 (Jul 13 low).
With investors mainly sidelined at the start of the week, the USD/CAD moved modestly higher and hit a high of 1.0746, last seen Jun 26. There is no much ahead in terms of economic data for today and focus turns to Fed Chairwoman semiannual testimony before Congress on Tuesday and Wednesday.
USD/CAD technical levels
At time of writing, the USD/CAD is trading at 1.0740, with immediate resistances seen at 1.0750 (38.2% of Jun/Jul fall) and 1.0806 (200-day SMA). On the other hand, supports could be found at 1.0725 (Jul 14 low), 1.0630 (Jul 11 low) and 1.0619 (Jul 13 low).