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13 Mar 2015
USD/CAD reaches fresh 6-year high
FXStreet (Córdoba) - The US dollar strengthened further and climbed to a fresh 6-year high versus the loonie, despite Canadian jobs data showed the economy shed fewer jobs than expected in February.
USD/CAD broke above 1.2800 and reached its highest level since March 2009 at 1.2823 amid mounting pressure from lower oil prices. However, the pair dipped back below 1.2800 and it was trading at 1.2780, recording a 0.76% gain on the day.
USD/CAD levels to watch
As for technical levels, USD/CAD could find immediate resistances at 1.2823 (2015 high Mar 13), 1.2841 (Mar 13 high) and 1.2900 (psychological level). On the flip side, supports are seen at 1.2685 (100-hour SMA) and 1.2616 (Mar 12 low).
USD/CAD broke above 1.2800 and reached its highest level since March 2009 at 1.2823 amid mounting pressure from lower oil prices. However, the pair dipped back below 1.2800 and it was trading at 1.2780, recording a 0.76% gain on the day.
USD/CAD levels to watch
As for technical levels, USD/CAD could find immediate resistances at 1.2823 (2015 high Mar 13), 1.2841 (Mar 13 high) and 1.2900 (psychological level). On the flip side, supports are seen at 1.2685 (100-hour SMA) and 1.2616 (Mar 12 low).