14 Jan 2014
USD/CAD pressing fresh highs
FXstreet.com (Guatemala) - USD/CAD is extending gains on positive US data which has negated any recovery made by the Canadian dollar previously.
USD/CAD was off the highs on positive outlooks from the BoC with the Business Outlook Survey which was benefitting from increased global demand. This news took the pair below 1.0850 yesterday in NY. Meanwhile, US Retail Sales for December printed 0.2% vs 0.1% sending the dollar on a more positive trend and took the pair to fresh daily highs to 1.0946.
USD/CAD Levels
The 20 DMA is 1.0693, the 50 DMA is 1.0603 and the 200 DMA is 1.0396. RSI (14) reads 62. Supports are 1.0819, 1.0825, 1.0842, 1.0875, 1.0883. Spot is 1.0918 while resistances are 1.0946, 1.0996 and 1.1075.
USD/CAD was off the highs on positive outlooks from the BoC with the Business Outlook Survey which was benefitting from increased global demand. This news took the pair below 1.0850 yesterday in NY. Meanwhile, US Retail Sales for December printed 0.2% vs 0.1% sending the dollar on a more positive trend and took the pair to fresh daily highs to 1.0946.
USD/CAD Levels
The 20 DMA is 1.0693, the 50 DMA is 1.0603 and the 200 DMA is 1.0396. RSI (14) reads 62. Supports are 1.0819, 1.0825, 1.0842, 1.0875, 1.0883. Spot is 1.0918 while resistances are 1.0946, 1.0996 and 1.1075.