13 May 2014
USD/CAD hits 1-week high
FXStreet (Córdoba) - The USD/CAD resumed the upside Tuesday, advancing to a fresh 1-week high during the European session as traders await the BoC quarterly review.
The USD/CAD has gathered momentum and is back headed north following a consolidation phase below 1.0900 after the spike that followed disappointing Canadian employment data last Friday. The pair stretched to a high of 1.0922 and it is currently trading at 1.0915, recording a 0.19% gain on the day.
US retail sales and the BoC quarterly report are on today's docket.
USD/CAD levels to watch
In terms of technical levels, if the USD/CAD breaks above recent highs, it could find next resistances at 1.0960 (May 6 high) and 1.0989 (100-day SMA). On the flip side, supports are seen at 1.0890 (May 13 low), 1.0873 (May 12 low) and 1.0813 (May 8 low).
The USD/CAD has gathered momentum and is back headed north following a consolidation phase below 1.0900 after the spike that followed disappointing Canadian employment data last Friday. The pair stretched to a high of 1.0922 and it is currently trading at 1.0915, recording a 0.19% gain on the day.
US retail sales and the BoC quarterly report are on today's docket.
USD/CAD levels to watch
In terms of technical levels, if the USD/CAD breaks above recent highs, it could find next resistances at 1.0960 (May 6 high) and 1.0989 (100-day SMA). On the flip side, supports are seen at 1.0890 (May 13 low), 1.0873 (May 12 low) and 1.0813 (May 8 low).