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20 Feb 2014
USD/CAD reaches fresh 2-week high
FXStreet (Córdoba) - The USD/CAD rose to a marginal new high for the day after the latest batch of US data which came in mainly in line with expectations.
The USD/CAD rose to the upper-side of today's range and printed a high of 1.1092. However, the dollar failed to break decisively above the 1.1090 zone and it is currently trading around that level, recording a 0.1% gain Thursday after an impressive rally the previous day.
In the macroeconomic domain, US CPI grew 0.1% in January and 1.6% YoY meeting market consensus. Meanwhile, initial jobless claims dropped 3K last week to 336K versus 335K expected.
USD/CAD technical levels
In terms of technical levels, if the USD/CAD breaks decisively above the 1.1090 zone, next resistances are seen at 1.1100 (psychological level) and 1.1120 (Feb 6 high). On the flip side, supports could be found at 1.1060 (Feb 20 low), 1.0909 (Feb 19 low) and 1.0900 (psychological level).
The USD/CAD rose to the upper-side of today's range and printed a high of 1.1092. However, the dollar failed to break decisively above the 1.1090 zone and it is currently trading around that level, recording a 0.1% gain Thursday after an impressive rally the previous day.
In the macroeconomic domain, US CPI grew 0.1% in January and 1.6% YoY meeting market consensus. Meanwhile, initial jobless claims dropped 3K last week to 336K versus 335K expected.
USD/CAD technical levels
In terms of technical levels, if the USD/CAD breaks decisively above the 1.1090 zone, next resistances are seen at 1.1100 (psychological level) and 1.1120 (Feb 6 high). On the flip side, supports could be found at 1.1060 (Feb 20 low), 1.0909 (Feb 19 low) and 1.0900 (psychological level).