Back
12 Dec 2014
USD/CAD eases from fresh 5-year highs
FXStreet (Córdoba) - USD/CAD retreated from fresh 5-year highs at the beginning of the New York session despite fresh lows seen in oil as investors took profit following sharp gains.
USD/CAD peaked at 1.1590, reaching its highest level since July 2009, but faced sellers. However, with the subsequent pullback being contained by 1.1535, USD/CAD managed to remain in positive territory for the day. At time of writing, the pair is trading at 1.1570, up 0.43% on the day and on track to post a 1.2% gain this week.
USD/CAD levels to watch
As for technical levels, immediate supports are seen at 1.1590 (2014 high Dec 12), 1.1600 (psychological level) and 1.1670 (Jul 13 2009 high). On the other hand, supports are seen at 1.1517 (daily low), 1.1500 (psychological level) and 1.1448 (Dec 11 low).
USD/CAD peaked at 1.1590, reaching its highest level since July 2009, but faced sellers. However, with the subsequent pullback being contained by 1.1535, USD/CAD managed to remain in positive territory for the day. At time of writing, the pair is trading at 1.1570, up 0.43% on the day and on track to post a 1.2% gain this week.
USD/CAD levels to watch
As for technical levels, immediate supports are seen at 1.1590 (2014 high Dec 12), 1.1600 (psychological level) and 1.1670 (Jul 13 2009 high). On the other hand, supports are seen at 1.1517 (daily low), 1.1500 (psychological level) and 1.1448 (Dec 11 low).