12 Nov 2013
USD/CAD eases from 2-month high
FXstreet.com (Córdoba) - The USD/CAD was rejected once again from above 1.0500 Tuesday although not before it printed a fresh 2-month high.
USD/CAD rejected from above 1.0500
The dollar strengthened across the board and pierced above 1.0500 versus the loonie to hit its highest in over 2 months at 1.0508. However, sellers reappeared at that level and sent the pair back below the psychological mark before it stabilized above 1.0490. At time of writing, USD/CAD is trading at 1.0495, recording a 0.2% gain on the day.
USD/CAD supports & resistances
In terms of technical levels, if the USD/CAD does break decisively above 1.0508, next resistances are seen at 1.0515 (Sep 5 high) and 1.0559 (Sep 3 high). On the downside, supports could be found at 1.0463 (daily low) and 1.0445 (Nov 8 low).
USD/CAD rejected from above 1.0500
The dollar strengthened across the board and pierced above 1.0500 versus the loonie to hit its highest in over 2 months at 1.0508. However, sellers reappeared at that level and sent the pair back below the psychological mark before it stabilized above 1.0490. At time of writing, USD/CAD is trading at 1.0495, recording a 0.2% gain on the day.
USD/CAD supports & resistances
In terms of technical levels, if the USD/CAD does break decisively above 1.0508, next resistances are seen at 1.0515 (Sep 5 high) and 1.0559 (Sep 3 high). On the downside, supports could be found at 1.0463 (daily low) and 1.0445 (Nov 8 low).