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24 Apr 2013
Forex: USD/CAD erases intraday gains
FXstreet.com (Córdoba) - The US dollar gave up ground across the board and erased gains versus the loonie, as risk appetite improved during the American afternoon and US stock indexes recover.
USD/CAD dropped over 20 pips within the last hours, slipping from a daily high of 1.0277 to a low of 1.0253 in recent dealings, matching the low set in Europe. At time of writing, USD/CAD is trading around 1.0255/60, where it is virtually unchanged since opening.
In terms of technical levels, next supports could be found at 1.0249 (low Apr 22), 1.0227 (10-day SMA) and 1.0210 (low Apr 17). On the other hand, resistances are seen at 1.0277 (daily high), 1.0285 (high Apr 22) and 1.0300 (psychological level).
USD/CAD dropped over 20 pips within the last hours, slipping from a daily high of 1.0277 to a low of 1.0253 in recent dealings, matching the low set in Europe. At time of writing, USD/CAD is trading around 1.0255/60, where it is virtually unchanged since opening.
In terms of technical levels, next supports could be found at 1.0249 (low Apr 22), 1.0227 (10-day SMA) and 1.0210 (low Apr 17). On the other hand, resistances are seen at 1.0277 (daily high), 1.0285 (high Apr 22) and 1.0300 (psychological level).