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2 Sep 2015
USD/CAD fails to hold above 1.3300
FXStreet (Córdoba) - USD/CAD pushed to fresh daily highs as the loonie weakened in sync with oil prices following a report that showed US crude oil stocks increased more than expected last week despite production dropped, fueling concerns over global supply glut.
USD/CAD broke above the 1.13 mark and climbed to a 2-day peak of 1.3323, stalling just a couple of pips shy of its Monday’s high. However, the greenback has given up some of its gains over the last hours and it is currently trading at 1.3289, still 0.18% above its opening price.
USD/CAD levels to watch
In terms of technical levels, USD/CAD could find next resistances at 1.3323/26 (Sep 2 high/Aug 31 high) and 1.3352 (Aug 25 high). On the other hand, supports are seen at 1.3223 (10-day SMA), 1.3200/1.3198 (psychological level/Sep 2 low) and 1.3117 (Sep 1 low).
USD/CAD broke above the 1.13 mark and climbed to a 2-day peak of 1.3323, stalling just a couple of pips shy of its Monday’s high. However, the greenback has given up some of its gains over the last hours and it is currently trading at 1.3289, still 0.18% above its opening price.
USD/CAD levels to watch
In terms of technical levels, USD/CAD could find next resistances at 1.3323/26 (Sep 2 high/Aug 31 high) and 1.3352 (Aug 25 high). On the other hand, supports are seen at 1.3223 (10-day SMA), 1.3200/1.3198 (psychological level/Sep 2 low) and 1.3117 (Sep 1 low).