4 Feb 2014
USD/CAD drops to fresh daily lows
FXStreet (Córdoba) - The USD/CAD fell to fresh daily lows during the American session as the loonie strengthened on oil rise and stocks' comeback.
With the latest upside attempt capped by the 1.1090, the USD/CAD turned south and slid toward a daily low of 1.1059 in recent dealings. At time of writing, the USD/CAD is trading at the 1.1065 zone, recording a 0.5% loss on the day.
USD/CAD technical levels
In terms of technical levels, the USD/CAD could find immediate supports at 1.1059 (Feb 4 low), 1.1040 (Feb 3 low) and 1.1030 (Jan 27 low). On the other hand, resistances are seen at 1.1122 (Feb 4 high/200-hour SMA), 1.1132 (Feb 3 high) and 1.1200 (psychological level).
With the latest upside attempt capped by the 1.1090, the USD/CAD turned south and slid toward a daily low of 1.1059 in recent dealings. At time of writing, the USD/CAD is trading at the 1.1065 zone, recording a 0.5% loss on the day.
USD/CAD technical levels
In terms of technical levels, the USD/CAD could find immediate supports at 1.1059 (Feb 4 low), 1.1040 (Feb 3 low) and 1.1030 (Jan 27 low). On the other hand, resistances are seen at 1.1122 (Feb 4 high/200-hour SMA), 1.1132 (Feb 3 high) and 1.1200 (psychological level).