Back
12 Jun 2013
USD/CAD falls to fresh 4-week low
FXstreet.com (Córdoba) - USD/CAD extended losses and hit a 4-week low at the beginning of the American session, supported by the positive tone in global markets.
After peaking at the 1.0215 area during the European session, USD/CAD turned lower and having dropped nearly 60 pips, it printed a low of 1.0156 before bouncing slightly. At time of writing, USD/CAD is trading at the 1.0160 area, 0.2% below its opening price.
In terms of technical levels, immediate support levels are seen at 1.0148 (May 16 low) and 1.0135 (May 14 low), while resistances could be found at 1.0200 (psychological level) and 1.0220 (100-hour SMA).
After peaking at the 1.0215 area during the European session, USD/CAD turned lower and having dropped nearly 60 pips, it printed a low of 1.0156 before bouncing slightly. At time of writing, USD/CAD is trading at the 1.0160 area, 0.2% below its opening price.
In terms of technical levels, immediate support levels are seen at 1.0148 (May 16 low) and 1.0135 (May 14 low), while resistances could be found at 1.0200 (psychological level) and 1.0220 (100-hour SMA).