25 Jul 2014
USD/CAD surges to weekly highs
FXStreet (Córdoba) - The USD/CAD tripped higher during the European session and reached fresh weekly highs as the greenback gathered pace across the board.
Having spent the week in a 50-pip range, the USD/CAD picked up momentum and stretched to a fresh high of 1.0765 in recent dealings. At time of writing, the pair trades at 1.0760, recording a 0.16% gain Friday.
Later on the day, the US will release durable goods orders data, which could cause a reaction on the USD/CAD, although the pair has remained quite resilient to economic data this week.
USD/CAD levels to watch
In terms of technical levels, the USD/CAD could find immediate resistances at 1.0785 (50% Fibo of 1.0959/1.0619), 1.0800 (psychological level) and 1.0824 (200-day SMA). On the flip side, supports are seen at 1.0737 (Jul 25 low), 1.0717 (Jul 24 low) and 1.0700 (psychological level).
Having spent the week in a 50-pip range, the USD/CAD picked up momentum and stretched to a fresh high of 1.0765 in recent dealings. At time of writing, the pair trades at 1.0760, recording a 0.16% gain Friday.
Later on the day, the US will release durable goods orders data, which could cause a reaction on the USD/CAD, although the pair has remained quite resilient to economic data this week.
USD/CAD levels to watch
In terms of technical levels, the USD/CAD could find immediate resistances at 1.0785 (50% Fibo of 1.0959/1.0619), 1.0800 (psychological level) and 1.0824 (200-day SMA). On the flip side, supports are seen at 1.0737 (Jul 25 low), 1.0717 (Jul 24 low) and 1.0700 (psychological level).