2 Dec 2013
USD/CAD hits fresh 2-year high
FXstreet.com (Córdoba) - The USD/CAD continued to advance Monday and reached a fresh 2-year high supported by broad greenback strength.
The Canadian dollar is among the worst performers in the FX market, with USD/CAD having broken above 1.0650 to print a high of 1.0653 during the European session. However, the pair continues to trade near highs ahead of the New York opening where investors will be watching a string of US indicators, including the Markit and the ISM PMI's. At time of writing, the USD/CAD is trading at the 1.0630 zone, still up 0.1% on the day.
USD/CAD levels to watch
If the USD/CAD breaks above 1.0656 (2011 peak), it will be trading at its highest since Aug 31 2010, with next resistances at 1.0670 and 1.0700. On the other hand, supports could now be found at 1.0613 (daily low) and 1.0600 (psychological level) ahead of 1.0558 (Nov 29 low).
The Canadian dollar is among the worst performers in the FX market, with USD/CAD having broken above 1.0650 to print a high of 1.0653 during the European session. However, the pair continues to trade near highs ahead of the New York opening where investors will be watching a string of US indicators, including the Markit and the ISM PMI's. At time of writing, the USD/CAD is trading at the 1.0630 zone, still up 0.1% on the day.
USD/CAD levels to watch
If the USD/CAD breaks above 1.0656 (2011 peak), it will be trading at its highest since Aug 31 2010, with next resistances at 1.0670 and 1.0700. On the other hand, supports could now be found at 1.0613 (daily low) and 1.0600 (psychological level) ahead of 1.0558 (Nov 29 low).