5 Nov 2014
USD/CAD hits new 5-year highs
FXStreet (Córdoba) - USD/CAD extended gains into a sixth day and printed a 5-year high Wednesday, as the greenback strengthened across the board after a victory by Republicans in the United States' midterm elections.
USD/CAD resumed the rise following a consolidative stage and climbed to 1.1465, its highest level since July 2009, underpinned by USD strength and with lower oil prices weighing on the loonie. At time of writing, USD/CAD is trading at 1.1440, recording a 0.28% gain on the day.
USD/CAD levels to watch
In terms of technical levels, USD/CAD could find immediate resistances at 1.1465 (2014 high Nov 5), 1.1500 (psychological level) and 1.1530 (Jul 14 2009 high). On the flip side, supports are seen at 1.1390 (Nov 5 low), 1.1339 (Nov 4 low) and 1.1300 (psychological level).
USD/CAD resumed the rise following a consolidative stage and climbed to 1.1465, its highest level since July 2009, underpinned by USD strength and with lower oil prices weighing on the loonie. At time of writing, USD/CAD is trading at 1.1440, recording a 0.28% gain on the day.
USD/CAD levels to watch
In terms of technical levels, USD/CAD could find immediate resistances at 1.1465 (2014 high Nov 5), 1.1500 (psychological level) and 1.1530 (Jul 14 2009 high). On the flip side, supports are seen at 1.1390 (Nov 5 low), 1.1339 (Nov 4 low) and 1.1300 (psychological level).