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27 Aug 2014
USD/CAD dips below 1.0900
FXStreet (Córdoba) - The USD/CAD lost more than 100 pips over the last session after being rejected from the 1.1000 resistance area and amid month-end dollar selling flows.
The loonie is among the best performers Wednesday, having briefly dropped below 1.0900 to hit an 8-day low of 1.0888 before finding support. The USD/CAD has managed to trim some of its recent losses and it is currently trading at the 1.0895 area, still 0.46% below its opening price.
USD/CAD technical levels
In terms of technical levels, a decisive break below 1.0888/81 (Aug 27 low/200-day SMA), could open the way toward 1.0862/59 (100-day SMA/Aug 15 low) and 1.0820 (Jul 25 high). On the other hand, resistances are seen at 1.1000 (Aug 26 high) and 1.1022 (61.8% Fibo of 1.1277-1.0619).
The loonie is among the best performers Wednesday, having briefly dropped below 1.0900 to hit an 8-day low of 1.0888 before finding support. The USD/CAD has managed to trim some of its recent losses and it is currently trading at the 1.0895 area, still 0.46% below its opening price.
USD/CAD technical levels
In terms of technical levels, a decisive break below 1.0888/81 (Aug 27 low/200-day SMA), could open the way toward 1.0862/59 (100-day SMA/Aug 15 low) and 1.0820 (Jul 25 high). On the other hand, resistances are seen at 1.1000 (Aug 26 high) and 1.1022 (61.8% Fibo of 1.1277-1.0619).