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25 Jun 2013
USD/CAD returns to 1.0500 level
FXstreet.com (New York) - The USD/CAD foreign exchange rate has retraced off earlier highs (1.0549), returning to opening levels Tuesday during the afternoon of US trading.
USD/CAD looks to target new highs
According to the TD Securities Team, “The USD/CAD is consolidating Monday’s gains around 1.0500. Retracement risks may have risen a notch (low/mid 1.0400, rather than upper 1.04 area), but we still the trend higher is solid and the USD will attract strong support on dips. However, gains through 1.0510/15 today will target new highs.”
USD/CAD loses daily gains
Following the recent easing, the USD/CAD has settled at 1.0500, securing a marginal gain of +0.01% Tuesday. ICN.com analysts point to the next resistances at 1.0530, then 1.0595, and finally 1.0610. Conversely, supportive regions lie below at 1.0455, 1.0420, and eventually 1.0355.
USD/CAD looks to target new highs
According to the TD Securities Team, “The USD/CAD is consolidating Monday’s gains around 1.0500. Retracement risks may have risen a notch (low/mid 1.0400, rather than upper 1.04 area), but we still the trend higher is solid and the USD will attract strong support on dips. However, gains through 1.0510/15 today will target new highs.”
USD/CAD loses daily gains
Following the recent easing, the USD/CAD has settled at 1.0500, securing a marginal gain of +0.01% Tuesday. ICN.com analysts point to the next resistances at 1.0530, then 1.0595, and finally 1.0610. Conversely, supportive regions lie below at 1.0455, 1.0420, and eventually 1.0355.