7 Jan 2015
USD/CAD rises back above 1.1850 after trade data
FXStreet (Córdoba) - The pullback of USD/CAD from fresh multi-year highs was contained by the 1.1810 area, keeping the positive tone intact.
USD/CAD bounced from daily lows and climbed back above 1.1850 after data showed Canadian trade deficit widened more than expected in November, while the trade gap shrank in the US. At time of writing, the pair is trading at 1.1850, recording a 0.13% gain on the day, and keeping the 5-year high of 1.1867 within a touching distance.
USD/CAD technical levels
As for technical levels, USD/CAD could find next resistances at 1.1867 (Jan 7 high), 1.1900 (psychological level). On the other hand, supports are seen at 1.1812 (daily low) , 1.1800 (psychological level) and 1.1730 (Jan 6 low).
USD/CAD bounced from daily lows and climbed back above 1.1850 after data showed Canadian trade deficit widened more than expected in November, while the trade gap shrank in the US. At time of writing, the pair is trading at 1.1850, recording a 0.13% gain on the day, and keeping the 5-year high of 1.1867 within a touching distance.
USD/CAD technical levels
As for technical levels, USD/CAD could find next resistances at 1.1867 (Jan 7 high), 1.1900 (psychological level). On the other hand, supports are seen at 1.1812 (daily low) , 1.1800 (psychological level) and 1.1730 (Jan 6 low).