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5 Aug 2013
USD/CAD consolidates below 1.0400
FXstreet.com (Córdoba) - The USD/CAD> entered in a consolidation phase over the last hours after failing once again to break decisively above the 1.0400 level.
USD/CAD rejected from 1.0400
USD/CAD was rejected from a high of 1.0402 and fell to a low of 1.0378 before finding support and resuming the upside. At time of writing, USD/CAD is trading at the 1.0390 zone, where it is a few pips above its opening price. The US ISM non-manufacturing PMI for July is the only major indicator scheduled for today’s American session, which could offer the pair some direction.
USD/CAD technical levels
In terms of technical levels, if USD/CAD managed to break above 1.0400, next resistances are seen at 1.0415 (30-day SMA) and 1.0445 (Jul 17 high), while on the flip side, supports could be faced at 1.0360 (10-day SMA) and 1.0300 (psychological level).
USD/CAD rejected from 1.0400
USD/CAD was rejected from a high of 1.0402 and fell to a low of 1.0378 before finding support and resuming the upside. At time of writing, USD/CAD is trading at the 1.0390 zone, where it is a few pips above its opening price. The US ISM non-manufacturing PMI for July is the only major indicator scheduled for today’s American session, which could offer the pair some direction.
USD/CAD technical levels
In terms of technical levels, if USD/CAD managed to break above 1.0400, next resistances are seen at 1.0415 (30-day SMA) and 1.0445 (Jul 17 high), while on the flip side, supports could be faced at 1.0360 (10-day SMA) and 1.0300 (psychological level).