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5 Jul 2013
USD/CAD reaches fresh 20-month highs after employment data
FXstreet.com (Córdoba) - The USD/CAD rose nearly 100 pips and scored a fresh 20-month high following the release of US and Canadian employment data.
USD/CAD rises above 1.0600
USD/CAD soared to 1.0607, its highest level since October 2011, as the USD strengthened in the wake of better-than-expected NFP and after Canadian numbers came in slightly above expectations.
However, the USD/CAD failed to hold above the 1.0600 mark for long and it is currently trading at the 1.0590 zone, where it prints a 0.7% gain on the day. Immediate resistances are now seen at 1.0607 (daily high) and 1.0658 (Oct 4 2011 high), while supports could be found at 1.0500 (psychological level) and 1.0470 (Jul 4 low).
USD/CAD rises above 1.0600
USD/CAD soared to 1.0607, its highest level since October 2011, as the USD strengthened in the wake of better-than-expected NFP and after Canadian numbers came in slightly above expectations.
However, the USD/CAD failed to hold above the 1.0600 mark for long and it is currently trading at the 1.0590 zone, where it prints a 0.7% gain on the day. Immediate resistances are now seen at 1.0607 (daily high) and 1.0658 (Oct 4 2011 high), while supports could be found at 1.0500 (psychological level) and 1.0470 (Jul 4 low).