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9 Oct 2013
USD/CAD maintains 4-week highs
FXstreet.com (Chicago) - USD/CAD continues printing higher highs right into the Asian trading session for a 1.0372 session high. With a US government shutdown that lasts 1 week now and a new replacement for Bernanke, the pair stalls below the 1.0370 zone.
USD/CAD Technical Levels
On earlier Canadian data that disappointed, the loonie weakened against a stronger dollar. After breaking two resistances, the pair stalled in between sessions in the US and Asia but higher lows indicate a potential continuation of the short-term bullish impulse. Offered at 1.0367, the pair navigates between supports aligned at 1.0364 (September 10th highs), 1.0340 (September 26th highs) ahead of 1.0316 (September 17th highs) and the resistances set at 1.04 (August 3rd highs), 1.0440 (August 7th highs) followed by 1.0471 (August 28th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.
USD/CAD Technical Levels
On earlier Canadian data that disappointed, the loonie weakened against a stronger dollar. After breaking two resistances, the pair stalled in between sessions in the US and Asia but higher lows indicate a potential continuation of the short-term bullish impulse. Offered at 1.0367, the pair navigates between supports aligned at 1.0364 (September 10th highs), 1.0340 (September 26th highs) ahead of 1.0316 (September 17th highs) and the resistances set at 1.04 (August 3rd highs), 1.0440 (August 7th highs) followed by 1.0471 (August 28th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.