22 Jul 2015
USD/CAD headed toward highest close in more than 10 years
FXStreet (Córdoba) - A stronger greenback and a decline in crude oil prices boosted USD/CAD, that rose back above 1.3000 and is about to post the highest daily close since 2004.
The pair peaked during the American session at 1.3052 and then pulled back but remained above 1.3000. Currently it is consolidating, moving around 1.3020/30, 80 pips above yesterday’s closing price.
Greenback is among the top performers on Wednesday. It was rising and extended gains after US housing data. Tomorrow there will be important economic reports in Canada (retail sales) and in the US (jobless claims).
USD/CAD technical levels
To the upside, immediate resistance lies at 1.3050/55 (daily high), 1.3065 (2009 high) and 1.3100. On the opposite direction support could be seen at 1.3010, 1.2965 and 1.2915 (July 21 low).
The pair peaked during the American session at 1.3052 and then pulled back but remained above 1.3000. Currently it is consolidating, moving around 1.3020/30, 80 pips above yesterday’s closing price.
Greenback is among the top performers on Wednesday. It was rising and extended gains after US housing data. Tomorrow there will be important economic reports in Canada (retail sales) and in the US (jobless claims).
USD/CAD technical levels
To the upside, immediate resistance lies at 1.3050/55 (daily high), 1.3065 (2009 high) and 1.3100. On the opposite direction support could be seen at 1.3010, 1.2965 and 1.2915 (July 21 low).