12 May 2015
USD/CAD breaks below 1.2000
FXStreet (Córdoba) - USD/CAD extended losses and broke below the 1.2000 during the American session amid broad greenback weakness and higher oil prices underpinning the loonie.
USD/CAD dropped more than 120 pips throughout the day and scored a 6-day low of 1.1977 in recent dealings, helped by oil testing $62 a barrel. At time of writing, the pair is trading at 1.1985, recording a 0.95% loss since opening.
USD/CAD technical levels
On the downside, the 1.1940 area stands as main support level, followed by 1.1900 (psychological level). On the upside, resistances are seen at 1.2106 (daily high) and 1.2150 (21-day SMA).
USD/CAD dropped more than 120 pips throughout the day and scored a 6-day low of 1.1977 in recent dealings, helped by oil testing $62 a barrel. At time of writing, the pair is trading at 1.1985, recording a 0.95% loss since opening.
USD/CAD technical levels
On the downside, the 1.1940 area stands as main support level, followed by 1.1900 (psychological level). On the upside, resistances are seen at 1.2106 (daily high) and 1.2150 (21-day SMA).