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31 Aug 2015
USD/CAD extends gains after Canadian current account data
FXStreet (Córdoba) - USD/CAD edged higher and printed fresh daily highs as the loonie weakened after data showed Canadian current account deficit contracted less than expected in the second quarter.
Canadian current account deficit came at CAD 17.4 billion down from CAD 18.15 billion the previous quarter but above the CAD 16.9 billion expected.
USD/CAD was lifted by data and reached a fresh daily high of 1.3279, although it continued to trade within its Friday’s range. At time of writing, the pair is trading at 1.3275, 0.5% above its opening price.
USD/CAD levels to watch
As for technical levels, next resistances could be found at 1.3300 (psychological level/Aug 28 high) and 1.3352 (Aug 25 high). On the other hand, supports are seen at 1.3203/00 (10-day SMA/psychological level) and 1.3165 (Aug 28 low).
Canadian current account deficit came at CAD 17.4 billion down from CAD 18.15 billion the previous quarter but above the CAD 16.9 billion expected.
USD/CAD was lifted by data and reached a fresh daily high of 1.3279, although it continued to trade within its Friday’s range. At time of writing, the pair is trading at 1.3275, 0.5% above its opening price.
USD/CAD levels to watch
As for technical levels, next resistances could be found at 1.3300 (psychological level/Aug 28 high) and 1.3352 (Aug 25 high). On the other hand, supports are seen at 1.3203/00 (10-day SMA/psychological level) and 1.3165 (Aug 28 low).