Back
10 Dec 2015
USD/CAD attempts to consolidate above 1.3600
FXStreet (Córdoba) - The US dollar advanced versus its Canadian counterpart and approached the 1.3600 level during the American session, as the loonie continues to feel the pressure from lower oil prices, as WTI trades back below $37.00 a barrel.
USD/CAD gathered pace after bouncing from a low of 1.3531 and climbed to a high of 1.3606 in recent dealings. However, despite having struck an 11-year peak this week, USD/CAD has been unable to consolidate above the psychological level. At time of writing, the pair is trading at 1.3601, recording a 0.17% gain on the day.
USD/CAD technical levels
In terms of technical levels, immediate resistances line up at 1.3616 (11-year high, Dec 8), 1.3633 (Jun 23 2004 high), 1.3672 (Jun 23 2004 high) ahead of 1.3700 (psychological level). On the other hand, supports are seen at 1.3515 (Dec 9 low), 1.3495 (Dec 8 low), 1.3440 (10-day SMA) and 1.3364 (Dec 7 low).
USD/CAD gathered pace after bouncing from a low of 1.3531 and climbed to a high of 1.3606 in recent dealings. However, despite having struck an 11-year peak this week, USD/CAD has been unable to consolidate above the psychological level. At time of writing, the pair is trading at 1.3601, recording a 0.17% gain on the day.
USD/CAD technical levels
In terms of technical levels, immediate resistances line up at 1.3616 (11-year high, Dec 8), 1.3633 (Jun 23 2004 high), 1.3672 (Jun 23 2004 high) ahead of 1.3700 (psychological level). On the other hand, supports are seen at 1.3515 (Dec 9 low), 1.3495 (Dec 8 low), 1.3440 (10-day SMA) and 1.3364 (Dec 7 low).