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2 Jan 2015
USD/CAD reaches a fresh 9-day high
FXStreet (Mumbai) - The US dollar inched up against the Canadian counterpart in the European morning, extending gains for the second straight session, reaching new 9-day high levels.
The USD/CAD pair now trades at 1.1653, up 0.30% on the day, having hit fresh nine day high at 1.1657 levels some minutes ago. The USD/CAD pair edged higher as the US dollar regained strength against its major counterparts on the onset of 2015. The US dollar index reached the highest level since 2008 to trade now at 90.96, 0.34% higher on daily basis. Higher crude oil prices also failed to lift the Canadian dollar versus the greenback.
USD/CAD Levels to consider
To the upside, the next resistance is located at 1.1668 (Dec 23 High) and above which it could extend gains to 1.1676 (Dec 16 High) levels. To the downside immediate support might be located at 1.1615 (Dec 28 Low) and below that at 1.16 levels.
The USD/CAD pair now trades at 1.1653, up 0.30% on the day, having hit fresh nine day high at 1.1657 levels some minutes ago. The USD/CAD pair edged higher as the US dollar regained strength against its major counterparts on the onset of 2015. The US dollar index reached the highest level since 2008 to trade now at 90.96, 0.34% higher on daily basis. Higher crude oil prices also failed to lift the Canadian dollar versus the greenback.
USD/CAD Levels to consider
To the upside, the next resistance is located at 1.1668 (Dec 23 High) and above which it could extend gains to 1.1676 (Dec 16 High) levels. To the downside immediate support might be located at 1.1615 (Dec 28 Low) and below that at 1.16 levels.