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USD/CAD dips below 1.3300

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - USD/CAD extended the pullback from 8-week highs scored the previous day and fell below the 1.3300 level during the American session as the loonie received a boost from higher oil prices, which rallied amid heightened geopolitical fears.

    USD/CAD dipped below the 1.33 mark and scored its lowest level since Friday at 1.3283 before finding support. At time of writing, the pair is trading at 1.3299, recording a 0.49% loss on the day.

    USD/CAD technical levels

    In terms of technical levels, immediate supports could be faced at 1.3283 (Nov 24 low), 1.3245 (Nov 19 low/21-day SMA) and 1.3183 (50-day SMA). On the upside, next resistances are seen at 1.3376 (Nov 24 high), 1.3435 (Nov 23 high) and then 1.3456 (2015 high Sep 29).
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