30 Jan 2014
USD/CAD flat after hitting 4 ½-year high
FXstreet.com (Córdoba) - After printing a fresh 4 ½-year high during the European session, the USD/CAD came under mild pressure and trim part of its recent gains following a string of mixed US data.
US GDP met expectations of 3.2% growth during the fourth quarter while jobless claims rose more than expected last week to 348,000. The USD/CAD pulled back from highs and hit a day low of 1.1150 before bouncing on disappointing US pending home sales. At time of writing, the USD/CAD is trading at the 1.1170, virtually unchanged since opening.
USD/CAD technical levels
As for technical levels, next resistances are seen at 1.1198/1.1200 (Jan 30 high/psychological level) and 1.1235. On the other hand, supports are seen at 1.1150 (Jan 30 low) and 1.1100 (Jan 29 low/psychological level).
US GDP met expectations of 3.2% growth during the fourth quarter while jobless claims rose more than expected last week to 348,000. The USD/CAD pulled back from highs and hit a day low of 1.1150 before bouncing on disappointing US pending home sales. At time of writing, the USD/CAD is trading at the 1.1170, virtually unchanged since opening.
USD/CAD technical levels
As for technical levels, next resistances are seen at 1.1198/1.1200 (Jan 30 high/psychological level) and 1.1235. On the other hand, supports are seen at 1.1150 (Jan 30 low) and 1.1100 (Jan 29 low/psychological level).