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20 May 2014
USD/CAD jumps to daily highs above 1.0900
FXStreet (San Francisco) - The US dollar is trading on the bullish side against its Canadian counterpart as investors are betting in the Greenback following weaker than expected Canadian wholesale sales in March.
Currently, USD/CAD is trading at 1.0900, up 0.24% on the day, having posted a daily high at 1.0908 and low at 1.0867. The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish.
USD/CAD levels
If the pair manages to consolidate levels above 1.0900, next resistance is at 1.0935 (Kijun Sen) followed by 1.0960 (high May 6) and finally 1.0980 (21-w MA). On the downside, a break below 1.0815 (low May 8) would open the door to 1.0760 (low Jan.8) and then 1.0735 (high Dec.20).
Currently, USD/CAD is trading at 1.0900, up 0.24% on the day, having posted a daily high at 1.0908 and low at 1.0867. The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish.
USD/CAD levels
If the pair manages to consolidate levels above 1.0900, next resistance is at 1.0935 (Kijun Sen) followed by 1.0960 (high May 6) and finally 1.0980 (21-w MA). On the downside, a break below 1.0815 (low May 8) would open the door to 1.0760 (low Jan.8) and then 1.0735 (high Dec.20).