18 Aug 2015
USD/CAD stabilizes below 1.3100
FXStreet (Córdoba) - USD/CAD found support at the 100-hour SMA and entered a quieter phase below 1.3100 over the last hours.
The Canadian dollar benefitted from higher oil prices and reversed early losses against the greenback. USD/CAD peaked at the 1.3125 zone during the European trade but then turned lower and fell all the way to 1.3060, before the 100-hour SMA offered support.
USD/CAD key levels
At time of writing, USD/CAD is trading at 1.3070, just a few pips below its opening price, with immediate supports seen at 1.3015 (Aug 14 low), 1.3000 (psychological level) and 1.2951 (Aug 12 low). On the other hand, resistances could be found at 1.3125 (Aug 18 high), 1.3151 (Aug 17 high) and 1.3181 (Aug 10 high).
The Canadian dollar benefitted from higher oil prices and reversed early losses against the greenback. USD/CAD peaked at the 1.3125 zone during the European trade but then turned lower and fell all the way to 1.3060, before the 100-hour SMA offered support.
USD/CAD key levels
At time of writing, USD/CAD is trading at 1.3070, just a few pips below its opening price, with immediate supports seen at 1.3015 (Aug 14 low), 1.3000 (psychological level) and 1.2951 (Aug 12 low). On the other hand, resistances could be found at 1.3125 (Aug 18 high), 1.3151 (Aug 17 high) and 1.3181 (Aug 10 high).