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18 Dec 2013
USD/CAD retraces from highs at 1.0670
FXstreet.com (San Francisco) - The USD/CAD jumped around 65 pips from 1.0605 to reach highest level since December 9 at 1.0670. However the pair wasn't able to hold that price and currently it is trading back at 1.0650.
The Dollar was boosted by better than expected US housing data early in the morning. US housing starts jumped 22.7% in November to a seasonally adjusted annual rate of 1.091 million, the highest rate since February 2008.
USD/CAD technicals
The USD/CAD is currently trading at 1.0650, 0.40% positive on the day. The short term perspective remains slightly bullish according to the FXstreet.com trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish.
Above the 1.0670, the USD/CAD would face resistances at 1.0700 and 1.0715. On the downside, supports are at 1.0625, 1.0600 and 1.0575.
The Dollar was boosted by better than expected US housing data early in the morning. US housing starts jumped 22.7% in November to a seasonally adjusted annual rate of 1.091 million, the highest rate since February 2008.
USD/CAD technicals
The USD/CAD is currently trading at 1.0650, 0.40% positive on the day. The short term perspective remains slightly bullish according to the FXstreet.com trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish.
Above the 1.0670, the USD/CAD would face resistances at 1.0700 and 1.0715. On the downside, supports are at 1.0625, 1.0600 and 1.0575.