USD/CAD extends gains to fresh highs

FXstreet.com (Córdoba) - The dollar has extended gains versus its Canadian counterpart during the American afternoon supported by better US data and a mild risk-off sentiment.

Following a consolidation phase at the beginning of the New York session, USD/CAD broke above the 1.0330 area and resumed the upside, climbing to a high of 1.0356 in recent dealings.

In terms of technical levels, USD/CAD could face next resistances at 1.0356 (daily high) and the 1.0375/800 (May 31/Jun 3 highs). On the other hand, supports could be found at 1.0330 (100-day SMA) and 1.0300 (psychological level).