USD/CAD stalls ahead of 1.0400

FXstreet.com (Córdoba) - The USD/CAD stretched to fresh daily highs during the American afternoon in a fresh wave of USD buying, but failed to sustain gains and pulled back a tad.

USD/CAD climbed over 120 pips on Thursday and reached a 3-week high before stalling just ahead of the 1.0400 psychological level. At time of writing, the pair is trading up 0.9% at the 1.0360 zone, having scored a peak of 1.0392.

USD/CAD eyeing 2013 high

If the pair manages to overcome the 1.0400 hurdle, the 2013 peak at 1.0420 should offer resistance, while on the other hand, supports are seen at 1.0300 (psychological level) and 1.0265 (daily low).

Jun 20, 2013

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