20 Aug 2013
USD/CAD reaches 1.0400 on weak Canadian wholesale sales
FXstreet.com (Córdoba) - The USD/CAD extended gains to the 1.0400 area after data showed Canadian Wholesale Sales fell much more than expected in June (-2.8% vs 0.7% exp), weighing on the loonie.
USD/CAD broke above the 1.0375 zone and jumped to a fresh 2-week high of 1.0400 before the psychological level halted the rise. At time of writing, USD/CAD is trading at the 1.0390 zone, where it records a 0.5% gain on the day.
USD/CAD levels to watch
If USD/CAD manages to break above 1.0400, next resistances could be found at 1.0430 (Aug 8 high) and 1.0450 (Jul 11 high). On the other hand, supports are seen at 1.0345 (session low) and 1.0300 (psychological level).
USD/CAD broke above the 1.0375 zone and jumped to a fresh 2-week high of 1.0400 before the psychological level halted the rise. At time of writing, USD/CAD is trading at the 1.0390 zone, where it records a 0.5% gain on the day.
USD/CAD levels to watch
If USD/CAD manages to break above 1.0400, next resistances could be found at 1.0430 (Aug 8 high) and 1.0450 (Jul 11 high). On the other hand, supports are seen at 1.0345 (session low) and 1.0300 (psychological level).