Back
10 Sep 2013
USD/CAD finds support at 100-day SMA
FXstreet.com (Córdoba) - The USD/CAD broke below yet other support level and fell to a fresh 3-week low at the beginning of the American session, as positive risk sentiment benefited high-yielding currencies in detriment of the USD and the JPY.
USD/CAD bounces off 100-day SMA as housing data disappoints
However, softer-than-expected Canadian housing data tempered the rally of the loonie and halted the USD/CAD decline at the 100-day SMA which offered firm support at 1.0330. Housing starts in Canada fell 6.6% in August to a seasonally adjusted figure of 180.3K versus 189K expected.
USD/CAD technical levels
At time of writing, USD/CAD is trading at the 1.0335/40 area, 0.3% below its opening price. As for technical levels, immediate supports could be found at 1.0330 (100-day SMA), 1.0315 (Aug 19 low) and 1.0300 (psychological level). On the other hand, resistances are seen at 1.0380 (daily high) and 1.0400 (psychological level.
USD/CAD bounces off 100-day SMA as housing data disappoints
However, softer-than-expected Canadian housing data tempered the rally of the loonie and halted the USD/CAD decline at the 100-day SMA which offered firm support at 1.0330. Housing starts in Canada fell 6.6% in August to a seasonally adjusted figure of 180.3K versus 189K expected.
USD/CAD technical levels
At time of writing, USD/CAD is trading at the 1.0335/40 area, 0.3% below its opening price. As for technical levels, immediate supports could be found at 1.0330 (100-day SMA), 1.0315 (Aug 19 low) and 1.0300 (psychological level). On the other hand, resistances are seen at 1.0380 (daily high) and 1.0400 (psychological level.