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14 May 2013
Forex: USD/CAD reaches 2-day peak
FXstreet.com (Córdoba) - The US dollar has accomplished gains versus its Canadian counterpart on Tuesday, as disappointing German data triggered risk aversion in financial markets.
USD/CAD climbed over 50 pips throughout the day, erasing yesterday's losses, and reached a 2-day high of 1.0140. At time of writing, the pair is trading around 1.0135, recording a 0.3% gain since opening.
In terms of technical levels, if the cross breaks above 1.0140, next resistances are seen at 1.0150 (21-day SMA/high May 10) and 1.0185 (61.8% retracement of the 1.0293/1.0016 drop). On the downside, supports are could be found at 1.0095 (100-day SMA), 1.0080 (10-day SMA) and 1.0062 (low May 10).
USD/CAD climbed over 50 pips throughout the day, erasing yesterday's losses, and reached a 2-day high of 1.0140. At time of writing, the pair is trading around 1.0135, recording a 0.3% gain since opening.
In terms of technical levels, if the cross breaks above 1.0140, next resistances are seen at 1.0150 (21-day SMA/high May 10) and 1.0185 (61.8% retracement of the 1.0293/1.0016 drop). On the downside, supports are could be found at 1.0095 (100-day SMA), 1.0080 (10-day SMA) and 1.0062 (low May 10).