1 Dec 2014
USD/CAD breaking key downside 1.14 as crude oil starts to recover to $72
FXStreet (Guatemala) - USD/CAD is trading at 1.1359, down -0.68% on the day, having posted a daily high at 1.1461 and low at 1.1348.
USD/CAD has lost ground, trading through and below the key 1.14 handle on the back of commodity prices starting to recover. Gold is the most impressive mover but oil is a more direct impact on the Canadian dollar and the Canadian oil producers. Crude is up from $67.16 and now is back up to test $72. Analysts at TD Securities explained that they doubt support around 1.1340 would be broken. “On the upside, the test remains for a break above the cycle high at 1.1467."
USD/CAD noteworthy levels
With spot trading at 1.1360 (Daily Classic S1), upside levels are 1.1369 (Weekly Classic PP), 1.1404 (Daily Classic PP), 1.1406 (Hourly 20 EMA) and 1.1421 (Daily Open). To the downside and below levels can be found at 1.1348 (Daily Low), 1.1327 (Yesterday's Low), 1.1319 (Hourly 100 SMA), 1.1309 (Hourly 200 SMA) and 1.1304 (Daily 20 SMA).
USD/CAD has lost ground, trading through and below the key 1.14 handle on the back of commodity prices starting to recover. Gold is the most impressive mover but oil is a more direct impact on the Canadian dollar and the Canadian oil producers. Crude is up from $67.16 and now is back up to test $72. Analysts at TD Securities explained that they doubt support around 1.1340 would be broken. “On the upside, the test remains for a break above the cycle high at 1.1467."
USD/CAD noteworthy levels
With spot trading at 1.1360 (Daily Classic S1), upside levels are 1.1369 (Weekly Classic PP), 1.1404 (Daily Classic PP), 1.1406 (Hourly 20 EMA) and 1.1421 (Daily Open). To the downside and below levels can be found at 1.1348 (Daily Low), 1.1327 (Yesterday's Low), 1.1319 (Hourly 100 SMA), 1.1309 (Hourly 200 SMA) and 1.1304 (Daily 20 SMA).