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18 Feb 2013
Forex: USD/CAD eyes 2013 high
The US dollar strengthened versus the loonie and pushed higher to hit a fresh 1-month high of 1.0096 in recent dealings. USD/CAD bounced from a low of 1.0055 during the American morning and managed to surpass last week's high of 1.0085.
At time of writing, USD/CAD is trading around 1.0085, where it posts a 0.1% daily gain, with next target at its 2013 high of 1.0099 (double top/25 and 28 Jan highs).
If USD/CAD manages to break above 1.0100 next resistances are seen at 1.0130 (Jul 20 high) and 1.0165 (Jul 26 high). On the downside, supports could be found at 1.0055 (intraday low) 1.0010 (10-day SMA), 1.0000 (psychological level).
At time of writing, USD/CAD is trading around 1.0085, where it posts a 0.1% daily gain, with next target at its 2013 high of 1.0099 (double top/25 and 28 Jan highs).
If USD/CAD manages to break above 1.0100 next resistances are seen at 1.0130 (Jul 20 high) and 1.0165 (Jul 26 high). On the downside, supports could be found at 1.0055 (intraday low) 1.0010 (10-day SMA), 1.0000 (psychological level).