16 Jan 2015
USD/CAD trims gains, trades above 5-DMA
FXStreet (Mumbai) - The US dollar trims previous gains against the Canadian counterpart, after having bounced-off from the SNB-induced slump as oil prices trade in green.
Currently, the USD/CAD pair trades higher by 0.12% at 1.1969 levels, retracing from daily highs at 1.1985 posted earlier. The Canadian dollar reversed losses against the US counterpart as oil prices continues to stabilize. Further, the mixed trend in the USD versus its major peers also cropped previous gains in the USD/CAD pair.
USD/CAD Technical Levels
To the upside, the next resistance is located at 1.1995 levels and above which it could extend gains 1.2018 levels. To the downside immediate support might be located at 1.1927 levels, below that at 1.1900 (10-DMA) levels.
Currently, the USD/CAD pair trades higher by 0.12% at 1.1969 levels, retracing from daily highs at 1.1985 posted earlier. The Canadian dollar reversed losses against the US counterpart as oil prices continues to stabilize. Further, the mixed trend in the USD versus its major peers also cropped previous gains in the USD/CAD pair.
USD/CAD Technical Levels
To the upside, the next resistance is located at 1.1995 levels and above which it could extend gains 1.2018 levels. To the downside immediate support might be located at 1.1927 levels, below that at 1.1900 (10-DMA) levels.