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23 Sep 2013
USD/CAD contained by 100-hour SMA
FXstreet.com (Córdoba) - The USD/CAD fell to test support at the 100-hour SMA at the beginning of the New York session, as the greenback came under pressure following lower-than-expected US manufacturing PMI.
USD/CAD dipped back below the 1.0300 mark and scored a daily low of 1.0275 but was contained by the 100-hour SMA and bounced. However, with the recovery capped by the 1.0300 mark, the pair was confined to a phase of consolidation.
USD/CAD technical levels
At time of writing, USD/CAD is trading at the 1.0290/95 area, still 0.1% below its opening price. As for technical levels, the pair could find immediate resistances at 1.0335 (Sep 17 high), 1.0347/50 (100-day SMA/Sep 13 high) and 1.0380 (Sep 10 high). On the other hand, supports are seen at 1.0275 (daily low/100-hour SMA) and 1.0215 (200-day SMA) ahead of 1.0200 (psychological level).
USD/CAD dipped back below the 1.0300 mark and scored a daily low of 1.0275 but was contained by the 100-hour SMA and bounced. However, with the recovery capped by the 1.0300 mark, the pair was confined to a phase of consolidation.
USD/CAD technical levels
At time of writing, USD/CAD is trading at the 1.0290/95 area, still 0.1% below its opening price. As for technical levels, the pair could find immediate resistances at 1.0335 (Sep 17 high), 1.0347/50 (100-day SMA/Sep 13 high) and 1.0380 (Sep 10 high). On the other hand, supports are seen at 1.0275 (daily low/100-hour SMA) and 1.0215 (200-day SMA) ahead of 1.0200 (psychological level).