26 Dec 2013
USD/CAD reverses intraday drop
FXstreet.com (Córdoba) - The USD/CAD saw a short-lived dip at the beginning of the American session but found support at the 1.0615 zone and erased intraday losses amid thin volume the day after Christmas.
The USD/CAD dropped to a low of 1.0615 but quickly bounced back to the upper side of today's range. At time of writing, the USD/CAD is trading at the 1.0640 zone, virtually unchanged on the day, having scored a daily peak of 1.0642 in recent dealings.
USD/CAD technical levels
In terms of technical levels, if the USD/CAD breaks above 1.0642 (daily high), it could rise towards 1.0654 (Dec 23 high) and 1.0700 (psychological level. On the other hand, supports might be faced at 1.0615 (daily low), 1.0600 (psychological level) and 1.0580 (Dec 23 low).
The USD/CAD dropped to a low of 1.0615 but quickly bounced back to the upper side of today's range. At time of writing, the USD/CAD is trading at the 1.0640 zone, virtually unchanged on the day, having scored a daily peak of 1.0642 in recent dealings.
USD/CAD technical levels
In terms of technical levels, if the USD/CAD breaks above 1.0642 (daily high), it could rise towards 1.0654 (Dec 23 high) and 1.0700 (psychological level. On the other hand, supports might be faced at 1.0615 (daily low), 1.0600 (psychological level) and 1.0580 (Dec 23 low).