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30 Dec 2014
USD/CAD pulls back after hitting 1-week high
FXStreet (Córdoba) - USD/CAD retreated from daily highs as the US dollar weakened across the board dragged by USD/JPY fall and as oil prices moved off fresh 5-year lows.
USD/CAD turned lower after hitting a 1-week high of 1.1650 and dropped to a low of 1.1610 before finding support. USD/CAD mirroring the greenback moves in the absence of domestic data until Friday. At time of writing, USD/CAD is trading at 1.1620, 0.11% below its opening price.
USD/CAD levels to watch
As for technical levels, USD/CAD could find immediate supports at 1.1603 (Dec 26 low) and 1.1590 (Dec 24 low), while resistances could be found at 1.1650 (daily high) and 1.1665 (Dec 23 high) and 1.1672 (2014 high Dec 14).
USD/CAD turned lower after hitting a 1-week high of 1.1650 and dropped to a low of 1.1610 before finding support. USD/CAD mirroring the greenback moves in the absence of domestic data until Friday. At time of writing, USD/CAD is trading at 1.1620, 0.11% below its opening price.
USD/CAD levels to watch
As for technical levels, USD/CAD could find immediate supports at 1.1603 (Dec 26 low) and 1.1590 (Dec 24 low), while resistances could be found at 1.1650 (daily high) and 1.1665 (Dec 23 high) and 1.1672 (2014 high Dec 14).