25 Nov 2013
USD/CAD consolidates in a range
FXstreet.com (Córdoba) - The USD/CAD continued to advance Monday and printed a fresh 4-month high during the European session amid broad USD strength.
The USD/CAD extended gains into a third consecutive day and reached a peak of 1.0582, last seen Jul 8, before finding resistance and pulling back. With the pullback being contained by the 1.0540 zone, the USD/CAD was confined to a tight range where it has spent the last hours. At time of writing, the pair is trading around 1.0555, still 0.3% above its opening price.
USD/CAD supports and resistances
In terms of technical levels, if the USD/CAD breaks above 1.0582 next resistances could be found at 1.0600 (psychological level) and 1.0607 (2013 high Jul 5). On the flip side, supports are seen at 1.0520 (daily low) and 1.0500 (psychological level).
The USD/CAD extended gains into a third consecutive day and reached a peak of 1.0582, last seen Jul 8, before finding resistance and pulling back. With the pullback being contained by the 1.0540 zone, the USD/CAD was confined to a tight range where it has spent the last hours. At time of writing, the pair is trading around 1.0555, still 0.3% above its opening price.
USD/CAD supports and resistances
In terms of technical levels, if the USD/CAD breaks above 1.0582 next resistances could be found at 1.0600 (psychological level) and 1.0607 (2013 high Jul 5). On the flip side, supports are seen at 1.0520 (daily low) and 1.0500 (psychological level).