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10 Sep 2013
USD/CAD trims daily losses
FXstreet.com (Córdoba) - The USD/CAD trimmed intraday losses during the New York session after the latest bearish attempt lacked momentum to break below the 100-day SMA.
USD/CAD bounced from the 1.0330 zone and recovered some ground as the loonie suffered in the wake of disappointing domestic housing data. At time of writing, USD/CAD is trading at the 1.0355 zone, still 0.1% below its opening price, as crude steadies around $106.00/bbl.
USD/CAD levels to watch
As for technical levels, immediate supports could be found at 1.0330 (100-day SMA), 1.0315 (Aug 19 low) and 1.0300 (psychological level). On the other hand, resistances are seen at 1.0380 (daily high) and 1.0400 (psychological level).
USD/CAD bounced from the 1.0330 zone and recovered some ground as the loonie suffered in the wake of disappointing domestic housing data. At time of writing, USD/CAD is trading at the 1.0355 zone, still 0.1% below its opening price, as crude steadies around $106.00/bbl.
USD/CAD levels to watch
As for technical levels, immediate supports could be found at 1.0330 (100-day SMA), 1.0315 (Aug 19 low) and 1.0300 (psychological level). On the other hand, resistances are seen at 1.0380 (daily high) and 1.0400 (psychological level).