19 Nov 2013
USD/CAD rallies to fresh highs above 1.0450
FXstreet.com (Córdoba) - The USD/CAD picked up momentum and rallied to fresh weekly highs during the American afternoon.
The USD/CAD broke above the 1.0450 resistance zone, which had been capping advances, triggering stops orders that led the pair to a 4-day high of 1.0470 before finding next resistance. At time of writing, USD/CAD is trading at the 1.0465 zone, recording a 0.4% gain on the day.
USD/CAD technical levels
In terms of technical levels, having broken above 1.0450, next resistances for USD/CAD are seen at 1.0484 (Nov 15 high) and 1.0525 (Nov 14 high). On the other hand, supports on dips could be found at 1.0414 (Nov 19 & 18 lows) followed by 1.0400 (psychological level) and 1.0386 (100-day SMA).
The USD/CAD broke above the 1.0450 resistance zone, which had been capping advances, triggering stops orders that led the pair to a 4-day high of 1.0470 before finding next resistance. At time of writing, USD/CAD is trading at the 1.0465 zone, recording a 0.4% gain on the day.
USD/CAD technical levels
In terms of technical levels, having broken above 1.0450, next resistances for USD/CAD are seen at 1.0484 (Nov 15 high) and 1.0525 (Nov 14 high). On the other hand, supports on dips could be found at 1.0414 (Nov 19 & 18 lows) followed by 1.0400 (psychological level) and 1.0386 (100-day SMA).