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18 Feb 2014
USD/CAD steady after US, Canada data
FXStreet (Córdoba) - The USD/CAD remained steady below the 100-hour SMA after the latest string of US and Canadian data.
In the US front, the NY Empire State Manufacturing Index came in at 4.48 well below expectations of 9.00 in February, while foreign investment in Canadian securities unexpectedly dropped in December. The USD/CAD however moved only a few pips higher to retest daily highs and it was last around 1.0970, a few pips above its opening price. Coming up next, US NAHB Housing Market Index (Feb).
USD/CAD technical levels
If the USD/CAD breaks decisively above the 100-hour SMA that lies as immediate resistance at 1.0975, next hurdle could be faced at 1.0988 (Feb 14 high) and 1.1000 (psychological level). On the other hand, supports are seen at 1.0945 (Feb 18 low) and 1.0939 (Feb 14 low) ahead of 1.0904/00 (Jan 16 low/psychological level).
In the US front, the NY Empire State Manufacturing Index came in at 4.48 well below expectations of 9.00 in February, while foreign investment in Canadian securities unexpectedly dropped in December. The USD/CAD however moved only a few pips higher to retest daily highs and it was last around 1.0970, a few pips above its opening price. Coming up next, US NAHB Housing Market Index (Feb).
USD/CAD technical levels
If the USD/CAD breaks decisively above the 100-hour SMA that lies as immediate resistance at 1.0975, next hurdle could be faced at 1.0988 (Feb 14 high) and 1.1000 (psychological level). On the other hand, supports are seen at 1.0945 (Feb 18 low) and 1.0939 (Feb 14 low) ahead of 1.0904/00 (Jan 16 low/psychological level).