15 Oct 2013
USD/CAD rises above 100-hour SMA
FXstreet.com (Córdoba) - The US dollar strengthened Tuesday amid progress in US budget talk with USD/CAD reaching a fresh high for the week during the American session.
The USD/CAD rose nearly 50 pips throughout the day and surpassed the 1.0375 zone, which has proven to be a tough short-term resistance, converging with the 100-hour SMA. At time of writing, USD/CAD is trading at the 1.0375 zone, where it records a 0.2% gain on the day, having printed a weekly high of 1.0379 so far.
USD/CAD technical levels
As for technical levels, USD/CAD could face immediate resistances at 1.0375 (Oct 14 & 15 high) and 1.0400 (psychological level) ahead of 1.0420 (Oct 10 high), while on the other hand supports are seen at 1.0330 (daily low), 1.0300 (psychological level) and 1.0275 (Sep 30 low).
The USD/CAD rose nearly 50 pips throughout the day and surpassed the 1.0375 zone, which has proven to be a tough short-term resistance, converging with the 100-hour SMA. At time of writing, USD/CAD is trading at the 1.0375 zone, where it records a 0.2% gain on the day, having printed a weekly high of 1.0379 so far.
USD/CAD technical levels
As for technical levels, USD/CAD could face immediate resistances at 1.0375 (Oct 14 & 15 high) and 1.0400 (psychological level) ahead of 1.0420 (Oct 10 high), while on the other hand supports are seen at 1.0330 (daily low), 1.0300 (psychological level) and 1.0275 (Sep 30 low).