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11 Feb 2014
USD/CAD rises to 1.1090
FXStreet (Córdoba) - The USD/CAD rose early in Asia reaching a fresh daily high at 1.1090, extending the recovery that started last Friday from 1.0965. The Canadian dollar is among the worst performers so far on Tuesday.
While the USD/CAD is trading at fresh highs, the US dollar recently hit new daily lows versus the Aussie and the Kiwi.
Technical outlook for the USD/CAD
In the last hours the USD/CAD has managed to recover and rose back above key levels. During Friday the pair broke the important support level 1.1040, and tumbled but trimmed losses to finished the week around 1.1030. Recently managed to rise back above 1.1040, gaining momentum. The pair is now moving with a short-term bullish bias with support around 1.1045 where an hourly uptrend line stands.
To the upside, immediate resistance lies at 1.11200/25 (February 4, 5 and 6 highs) and above at 1.1150.
While the USD/CAD is trading at fresh highs, the US dollar recently hit new daily lows versus the Aussie and the Kiwi.
Technical outlook for the USD/CAD
In the last hours the USD/CAD has managed to recover and rose back above key levels. During Friday the pair broke the important support level 1.1040, and tumbled but trimmed losses to finished the week around 1.1030. Recently managed to rise back above 1.1040, gaining momentum. The pair is now moving with a short-term bullish bias with support around 1.1045 where an hourly uptrend line stands.
To the upside, immediate resistance lies at 1.11200/25 (February 4, 5 and 6 highs) and above at 1.1150.