Back
2 Oct 2013
USD/CAD erases daily gains
FXstreet.com (Córdoba) - The USD/CAD reverses earlier gains during the American session and turned flat for the day, as the greenback surrendered ground on lower-than-expected US economic data.
USD/CAD reached a 3-week high of 1.0355 Wednesday, but stalled just ahead of the 100-day SMA that is offering dynamic resistance at 1.0360. The pair lost momentum afterward and retreated to the 1.0330 zone, where it is currently trading, virtually unchanged on the day.
USD/CAD technical levels
If USD/CAD manages to break above the 1.0355/60 resistance area (daily high/100-day SMA) next resistances are seen at 1.0380 (Sep 10 high) and 1.0400(psychological level), while next support levels could be found at 1.0315 (100-hour SMA) and 1.0300 (psychological level).
USD/CAD reached a 3-week high of 1.0355 Wednesday, but stalled just ahead of the 100-day SMA that is offering dynamic resistance at 1.0360. The pair lost momentum afterward and retreated to the 1.0330 zone, where it is currently trading, virtually unchanged on the day.
USD/CAD technical levels
If USD/CAD manages to break above the 1.0355/60 resistance area (daily high/100-day SMA) next resistances are seen at 1.0380 (Sep 10 high) and 1.0400(psychological level), while next support levels could be found at 1.0315 (100-hour SMA) and 1.0300 (psychological level).