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29 Dec 2014
USD/CAD steady above 1.1600
FXStreet (Córdoba) - USD/CAD recently printed a fresh daily low at 1.1603 as the US dollar weakened across the board. The decline found support above 1.1600 and it rose back toward 1.1620.
The pair continues to move without a clear bias in the short term but remains bullish on a wider perspective. Since last Friday price action has remained limited between 1.1600 and 1.1640. Today peaked at 1.1633 on Asian hours but then turned to the downside.
USD/CAD technical level
To the upside, immediate resistance might lie at 1.1630/35 (daily high) and above here at 1.1645 (Dec 22 high) and 1.1670/75 (2014 high). On the opposite direction support could be located at 1.1600 followed by 1.1590 (Dec 24 low) and 1.1560 (Dec 17 low).
The pair continues to move without a clear bias in the short term but remains bullish on a wider perspective. Since last Friday price action has remained limited between 1.1600 and 1.1640. Today peaked at 1.1633 on Asian hours but then turned to the downside.
USD/CAD technical level
To the upside, immediate resistance might lie at 1.1630/35 (daily high) and above here at 1.1645 (Dec 22 high) and 1.1670/75 (2014 high). On the opposite direction support could be located at 1.1600 followed by 1.1590 (Dec 24 low) and 1.1560 (Dec 17 low).