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11 Dec 2014
USD/CAD breaks above 1.1500
FXStreet (Córdoba) - USD/CAD broke above the 1.1500 psychological level and climbed to a fresh 5-year high during the American session as better-than-expected US data and another wave of oil selling gave the dollar the final boost.
USD/CAD rallied to a high of 1.1537, posting its highest level since Jul 13 2009, as the greenback picked up momentum and crude oil hit a fresh cycle low at $60.21 a barrel, weighing on the loonie.
USD/CAD technical levels
At time of writing, USD/CAD is trading at 1.1525, recording a 0.39% gain on the day. On the upside, next resistance is seen at 1.1585 (Jul 7 2009 low) and 1.1600 (psychological level), while supports are seen at 1.1447 (daily low) and 1.1414 (200-hour SMA).
USD/CAD rallied to a high of 1.1537, posting its highest level since Jul 13 2009, as the greenback picked up momentum and crude oil hit a fresh cycle low at $60.21 a barrel, weighing on the loonie.
USD/CAD technical levels
At time of writing, USD/CAD is trading at 1.1525, recording a 0.39% gain on the day. On the upside, next resistance is seen at 1.1585 (Jul 7 2009 low) and 1.1600 (psychological level), while supports are seen at 1.1447 (daily low) and 1.1414 (200-hour SMA).