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13 Mar 2013
Forex: USD/CAD settles below 1.0300
Despite the rally witnessed at the beginning of the American session, the dollar failed to break above the 1.0300 level against its Canadian counterpart, and settled within a lower range, where it has spent the last hours in quiet consolidation.
USD/CAD peaked at 1.0294 but lost momentum, although with the subsequent setback being contained by the 1.0270 area, the pair is currently trading around 1.0280/90, still up 0.3% on the day.
As for technical levels, once above 1.0300, USD/CAD could face next resistances at 1.0330 (Mar 7 high) and 1.0345 (2013 high). On the other hand, supports are now seen at 1.0245 (intraday low), 1.0235 (Mar 8 low) and 1.0200 (psychological level).
USD/CAD peaked at 1.0294 but lost momentum, although with the subsequent setback being contained by the 1.0270 area, the pair is currently trading around 1.0280/90, still up 0.3% on the day.
As for technical levels, once above 1.0300, USD/CAD could face next resistances at 1.0330 (Mar 7 high) and 1.0345 (2013 high). On the other hand, supports are now seen at 1.0245 (intraday low), 1.0235 (Mar 8 low) and 1.0200 (psychological level).