10 Apr 2014
USD/CAD jumps above 1.0900
FXStreet (San Francisco) - The US dollar is currently gaining ground against its Canadian counterpart as the pair has reacted to the upside after the good data in the US.
The USD/CAD was initially well supported by the 1.0875 area in the European morning; however movements were limited until the jobless claims report that came better than expected. Data fueled pair to break above the 1.0900 key level and to trade at daily highs around 1.0920.
Currently, USD/CAD is trading at 1.0909, up 0.31% on the day, having posted a daily high at 1.0922 and low at 1.0868. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
USD/CAD levels
If the pair holds above the 1.0900 area, next resistances are at 1.0922 (Daily High), 1.0944 (Yesterday's High) and 1.0960. On the downside, supports are at 1.0875, 1.0865 and 1.0955.
The USD/CAD was initially well supported by the 1.0875 area in the European morning; however movements were limited until the jobless claims report that came better than expected. Data fueled pair to break above the 1.0900 key level and to trade at daily highs around 1.0920.
Currently, USD/CAD is trading at 1.0909, up 0.31% on the day, having posted a daily high at 1.0922 and low at 1.0868. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
USD/CAD levels
If the pair holds above the 1.0900 area, next resistances are at 1.0922 (Daily High), 1.0944 (Yesterday's High) and 1.0960. On the downside, supports are at 1.0875, 1.0865 and 1.0955.