25 Sep 2013
USD/CAD dips back below 1.0300
FXstreet.com (Córdoba) - The USD/CAD dropped to fresh lows during the New York session as the greenback came under renewed pressure across the board.
After failing to overcome the 1.0320 level, USD/CAD spent a few hours in a tight range but failed to hold above the 1.0300 psychological level and dropped to fresh daily lows in recent dealings. At time of writing, USD/CAD is trading at the 1.0295 area, having found support at the 100-hour SMA at 1.0285.
USD/CAD levels to watch
On the downside, supports could be found at 1.0285 (100-hour SMA) and 1.0270 (Sep 24 low)., while on the upside, if USD/CAD manages to overcome the 1.0320/27 area (daily highs/38.2% Fib of 1.0560/1.0182), next resistances are seen at 1.0350 (100-day SMA) and 1.0370 (50% Fibo level).
After failing to overcome the 1.0320 level, USD/CAD spent a few hours in a tight range but failed to hold above the 1.0300 psychological level and dropped to fresh daily lows in recent dealings. At time of writing, USD/CAD is trading at the 1.0295 area, having found support at the 100-hour SMA at 1.0285.
USD/CAD levels to watch
On the downside, supports could be found at 1.0285 (100-hour SMA) and 1.0270 (Sep 24 low)., while on the upside, if USD/CAD manages to overcome the 1.0320/27 area (daily highs/38.2% Fib of 1.0560/1.0182), next resistances are seen at 1.0350 (100-day SMA) and 1.0370 (50% Fibo level).