11 Nov 2013
USD/CAD pullback contained by 1.0465
FXstreet.com (Córdoba) - The USD/CAD corrected lower Monday after stronger than expected US jobs data sent the pair to a 2-month high above 1.0500 last week.
The USD/CAD reached its highest level since Sep 6 at 1.0502 Friday but failed to hold above the psychological level and turned lower, having extended its pullback to a low of 1.0465 before finding support. However, moves have been mostly shy amid low volume as several European markets are closed for Armistice Day while the US is celebrating Veterans Day.
USD/CAD levels to watch
At time of writing, USD/CAD is trading at the 1.0475 region, a few pips below its opening price. As for technical levels, immediate supports are seen at 1.0465 (daily low) and 1.0445 (Nov 8 low) ahead of the 1.0410/00 zone, where static support converges with the 21-day SMA. On the upside, resistances could be found at 1.0485 (daily high) and 1.0502 (Nov 8 high).
The USD/CAD reached its highest level since Sep 6 at 1.0502 Friday but failed to hold above the psychological level and turned lower, having extended its pullback to a low of 1.0465 before finding support. However, moves have been mostly shy amid low volume as several European markets are closed for Armistice Day while the US is celebrating Veterans Day.
USD/CAD levels to watch
At time of writing, USD/CAD is trading at the 1.0475 region, a few pips below its opening price. As for technical levels, immediate supports are seen at 1.0465 (daily low) and 1.0445 (Nov 8 low) ahead of the 1.0410/00 zone, where static support converges with the 21-day SMA. On the upside, resistances could be found at 1.0485 (daily high) and 1.0502 (Nov 8 high).