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2 Jan 2014
USD/CAD collapses below 1.0600
FXstreet.com (San Francisco) - The USD/CAD is trading under pressure after being rejected by the 1.0660 level and launched below the 1.0600 area.
After a period of consolidation in between 1.0615 and 1.0655, the USD/CAD broke down 1.0635, 1.0620 and 1.0600 supports in the latest couple of hours to test 1-week low at 1.0588.
Currently, the USD/CAD is pricing at 1.0591, 0.50% negative on the day. The short term perspective is slightly bearish according to the FXstreet.com trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
USD/CAD levels
The USD/CAD would face supports at 1.0580, 1.0570 and 1.0560. On the upside, resistances are at 1.0615, 1.0660 and 1.0690.
After a period of consolidation in between 1.0615 and 1.0655, the USD/CAD broke down 1.0635, 1.0620 and 1.0600 supports in the latest couple of hours to test 1-week low at 1.0588.
Currently, the USD/CAD is pricing at 1.0591, 0.50% negative on the day. The short term perspective is slightly bearish according to the FXstreet.com trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
USD/CAD levels
The USD/CAD would face supports at 1.0580, 1.0570 and 1.0560. On the upside, resistances are at 1.0615, 1.0660 and 1.0690.