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13 Feb 2014
USD/CAD capped by 100-hour SMA
FXStreet (Córdoba) - The USD/CAD surged to fresh daily highs at the beginning of the American session after a round of Canadian and US data.
While Canadian new housing price index came in line with expectations, US January retail sales unexpectedly dropped while jobless claims rose last week. The USD/CAD climbed nearly 40 pips after the figures and reached a high of 1.1025 before the 100-hour SMA offered resistance. At time of writing, the USD/CAD is trading at the 1.1010 area, recording a 0.1% gain on the day.
USD/CAD levels to watch
The USD/CAD could find immediate resistances at 1.1025 (100-hour SMA), 1.1050 (200-hour SMA) and 1.1090 (Feb 11 high). On the downside, supports are seen at 1.0975 (Feb 13 low), 1.0967 (Feb 7 low).
While Canadian new housing price index came in line with expectations, US January retail sales unexpectedly dropped while jobless claims rose last week. The USD/CAD climbed nearly 40 pips after the figures and reached a high of 1.1025 before the 100-hour SMA offered resistance. At time of writing, the USD/CAD is trading at the 1.1010 area, recording a 0.1% gain on the day.
USD/CAD levels to watch
The USD/CAD could find immediate resistances at 1.1025 (100-hour SMA), 1.1050 (200-hour SMA) and 1.1090 (Feb 11 high). On the downside, supports are seen at 1.0975 (Feb 13 low), 1.0967 (Feb 7 low).