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12 Sep 2013
USD/CAD at highs in the US, Canada data aftermath
FXstreet.com (Córdoba) - The USD/CAD rose slightly and hit fresh highs at the beginning of the American session as the net outcome of the latest string of US and Canadian data.
US jobless claims unexpectedly fell below 300K for first time since 2006, although a government official warned the drop was largely due to faulty reporting by states. Meanwhile in Canada, prices of new houses climbed 0.2% in July, besting market expectations for a 0.1% advance.
USD/CAD capped by 100-day SMA
As a result, USD/CAD climbed nearly 20 pips and scored a day high of 1.0334 before finding resistance at the 100-day SMA. At time of writing, the pair is trading at the 1.0330 zone, still 0.1% above its opening price.
USD/CAD key levels
In terms of technical levels, if USD/CAD breaks above 1.0335, next resistances could be found at 1.0365 (Sep 11 high) and 1.0380 (Sep 10 high). On the flip side, supports are seen at 1.0305 (daily low) and 1.0292 (Aug 16 low).
US jobless claims unexpectedly fell below 300K for first time since 2006, although a government official warned the drop was largely due to faulty reporting by states. Meanwhile in Canada, prices of new houses climbed 0.2% in July, besting market expectations for a 0.1% advance.
USD/CAD capped by 100-day SMA
As a result, USD/CAD climbed nearly 20 pips and scored a day high of 1.0334 before finding resistance at the 100-day SMA. At time of writing, the pair is trading at the 1.0330 zone, still 0.1% above its opening price.
USD/CAD key levels
In terms of technical levels, if USD/CAD breaks above 1.0335, next resistances could be found at 1.0365 (Sep 11 high) and 1.0380 (Sep 10 high). On the flip side, supports are seen at 1.0305 (daily low) and 1.0292 (Aug 16 low).