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4 Oct 2013
USD/CAD remains capped by 1.0340
FXstreet.com (Córdoba) - The USD/CAD picked up fresh momentum and rose to retest yesterday's highs during the European session, given the risk-off environment and ahead of the Ivey PMI for Canada.
After finding support at the 100-hour SMA, the USD/CAD climbed to the 1.0340 zone where it printed a daily high, roughly at the same level it did yesterday. However, the pair lacked momentum to decisively break above that level and pulled back slightly.
USD/CAD technical levels
At time of writing, USD/CAD is trading at the 1.0335 zone, virtually unchanged on the day on the day, with immediate resistances lining up at 1.0340 (Oct 3 & 4 highs) and 1.0355 (Oct 2 high), while supports are seen at 1.0320 (100-hour SMA) and 1.0300 (psychological level).
After finding support at the 100-hour SMA, the USD/CAD climbed to the 1.0340 zone where it printed a daily high, roughly at the same level it did yesterday. However, the pair lacked momentum to decisively break above that level and pulled back slightly.
USD/CAD technical levels
At time of writing, USD/CAD is trading at the 1.0335 zone, virtually unchanged on the day on the day, with immediate resistances lining up at 1.0340 (Oct 3 & 4 highs) and 1.0355 (Oct 2 high), while supports are seen at 1.0320 (100-hour SMA) and 1.0300 (psychological level).