18 Nov 2013
USD/CAD hits daily lows
FXstreet.com (Córdoba) - The USD/CAD printed a marginal new low for the day after data showed foreign investment in Canadian securities grew more than expected in September.
Foreign investment in Canadian securities rose to CAD 8.36 billion in Sep, exceeding expectations of CAD 6.71 billion. The USD/CAD hit a low of 1.0414 but the loonie lacked momentum to drag the pair lower. At time of writing, USD/CAD is trading at the 1.0420 zone, recording a 0.2% loss on the day.
USD/CAD technical levels
In terms of technical levels, the USD/CAD could found immediate supports at 1.0405 (Nov 7 low), 1.0397 (Nov 4 low) and 1.0387 (100-day SMA). On the upside, resistances line up at 1.0440 (daily high) and 1.0455 (10-day SMA) ahead of 1.0485 (Nov 15 high).
Foreign investment in Canadian securities rose to CAD 8.36 billion in Sep, exceeding expectations of CAD 6.71 billion. The USD/CAD hit a low of 1.0414 but the loonie lacked momentum to drag the pair lower. At time of writing, USD/CAD is trading at the 1.0420 zone, recording a 0.2% loss on the day.
USD/CAD technical levels
In terms of technical levels, the USD/CAD could found immediate supports at 1.0405 (Nov 7 low), 1.0397 (Nov 4 low) and 1.0387 (100-day SMA). On the upside, resistances line up at 1.0440 (daily high) and 1.0455 (10-day SMA) ahead of 1.0485 (Nov 15 high).