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9 Aug 2013
USD/CAD hits ceiling at 1.0293
FXstreet.com (Chicago) - USD/CAD soared amid speculations on commodities demand triggered by positive Chinese production data but retraced shortly thereafter below 1.0293 zone.
Price action indicated the pair respected supports at 1.0297 (July 31st lows), 1.0262 (July 24th lows) ahead of 1.0249 (July 29th lows) and resistances at 1.0300 (July 27th highs), 1.0312 (July 24th highs) followed by 1.0323 (July 20th lows) as it traded at 1.0290 at closing of American markets.
The FXstreet trend index reported the pair as slightly bearish on one-hour timeframe analysis with daily losses adding up to 0.44% along a CCI indicator pointing down.
Price action indicated the pair respected supports at 1.0297 (July 31st lows), 1.0262 (July 24th lows) ahead of 1.0249 (July 29th lows) and resistances at 1.0300 (July 27th highs), 1.0312 (July 24th highs) followed by 1.0323 (July 20th lows) as it traded at 1.0290 at closing of American markets.
The FXstreet trend index reported the pair as slightly bearish on one-hour timeframe analysis with daily losses adding up to 0.44% along a CCI indicator pointing down.