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19 Feb 2014
USD/CAD extends advance above 1.1000
FXStreet (San Francisco) - The US dollar is conquering the 1.1000 level against its Canadian counterpart after a push of bullishness following a set of weaker than expected data in both Canada and US countries.
After being strongly rejected by the 1-month low of 1.0910 overnight, the USD/CAD has escalated more than 100 pips to break the 1.0975 resistance and to trade above the 1.1000 key level at 1.1020, nearly fresh 1-week high.
USD/CAD sentiment
The USD/CAD is currently trading at 1.1010, 0.52% positive in the day. The short term perspective remains slightly bullish according to the FXStreet trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish.
If the pair holds above the 1.1000 key level, next resistances would be at 1.1025 and 1.1065. On the downside, supports are now at 1.0970, 1.0940 and today's low at 1.0910.
After being strongly rejected by the 1-month low of 1.0910 overnight, the USD/CAD has escalated more than 100 pips to break the 1.0975 resistance and to trade above the 1.1000 key level at 1.1020, nearly fresh 1-week high.
USD/CAD sentiment
The USD/CAD is currently trading at 1.1010, 0.52% positive in the day. The short term perspective remains slightly bullish according to the FXStreet trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish.
If the pair holds above the 1.1000 key level, next resistances would be at 1.1025 and 1.1065. On the downside, supports are now at 1.0970, 1.0940 and today's low at 1.0910.