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27 Sep 2013
USD/CAD surrenders daily gains
FXstreet.com (Córdoba) - The USD/CAD was rejected from daily highs and surrendered intraday gains at the beginning of the New York session as the greenback weakened versus most majors.
USD/CAD failed once again to consolidate above the 1.0330 area, which represents the 38.2% retracement of the1.0557/1.0182 fall, and turned flat for the day. At time of writing, USD/CAD is trading at the 1.0310 zone, virtually unchanged since opening.
USD/CAD technical levels
As for technical levels, supports are seen at 1.0300 (psychological level/100-hour SMA), 1.0260 (Sep 20 low) and 1.0223 (200-day SMA). On the other hand, if the pair breaks decisively above 1.0330/40, next resistances are seen at 1.0355 (100-day SMA) and 1.0370 (50% retracement of 1.0557/1.0182).
USD/CAD failed once again to consolidate above the 1.0330 area, which represents the 38.2% retracement of the1.0557/1.0182 fall, and turned flat for the day. At time of writing, USD/CAD is trading at the 1.0310 zone, virtually unchanged since opening.
USD/CAD technical levels
As for technical levels, supports are seen at 1.0300 (psychological level/100-hour SMA), 1.0260 (Sep 20 low) and 1.0223 (200-day SMA). On the other hand, if the pair breaks decisively above 1.0330/40, next resistances are seen at 1.0355 (100-day SMA) and 1.0370 (50% retracement of 1.0557/1.0182).