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14 May 2013
Forex: USD/CAD eases from 2-week highs
FXstreet.com (Córdoba) - The positive tone witnessed in stock markets failed to materialize in the FX space, with the greenback advancing across the board and currencies linked to commodities underperforming.
USD/CAD managed to pierce the 1.0150 resistance area, and stretched to 1.0167, its highest level since Apr 29, before easing somewhat. At time of writing, USD/CAD is trading at the 1.0150 area, still up 0.5% on the day.
In terms of technical levels, immediate resistance levels are seen at 1.0167 (daily high) and 1.0185 (61.8% retracement of the 1.0293/1.0016 drop). On the downside, supports could be found at 1.0095 (100-day SMA), 1.0080 (10-day SMA) and 1.0062 (low May 10).
USD/CAD managed to pierce the 1.0150 resistance area, and stretched to 1.0167, its highest level since Apr 29, before easing somewhat. At time of writing, USD/CAD is trading at the 1.0150 area, still up 0.5% on the day.
In terms of technical levels, immediate resistance levels are seen at 1.0167 (daily high) and 1.0185 (61.8% retracement of the 1.0293/1.0016 drop). On the downside, supports could be found at 1.0095 (100-day SMA), 1.0080 (10-day SMA) and 1.0062 (low May 10).