23 Apr 2014
USD/CAD erases daily gains
FXStreet (Córdoba) - The USD/CAD shrugged-off solid Canadian retail sales and disappointing US housing data and finally settled around the flat line.
The USD/CAD is back to square one after oscillating between a low of 1.1017, scored post-Canadian retail sales, and a 3-week high of 1.1052. The USD/CAD is currently trading at the 1.1030 zone, virtually unchanged on the day.
USD/CAD levels to watch
In terms of technical levels, the USD/CAD could face immediate resistances at 1.1052 (Apr 23 high/50-day SMA), 1.1069 (Apr1high) and 1.1100 (psychological level). On the flip side, supports are seen at 1.1017 (Apr 23 low), 1.1000 (psychological level) and 1.0983 (Apr 17 low).
The USD/CAD is back to square one after oscillating between a low of 1.1017, scored post-Canadian retail sales, and a 3-week high of 1.1052. The USD/CAD is currently trading at the 1.1030 zone, virtually unchanged on the day.
USD/CAD levels to watch
In terms of technical levels, the USD/CAD could face immediate resistances at 1.1052 (Apr 23 high/50-day SMA), 1.1069 (Apr1high) and 1.1100 (psychological level). On the flip side, supports are seen at 1.1017 (Apr 23 low), 1.1000 (psychological level) and 1.0983 (Apr 17 low).