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27 Jan 2014
USD/CAD climbs to daily highs
FXstreet.com (Córdoba) - The USD/CAD accelerated higher during the American afternoon and rose to fresh daily highs as the greenback advanced versus the loonie in the wake of mixed US data.
The USD/CAD rose more than 80 pips after bottoming out at 1.1030 and reached a high of 1.1110 in recent dealings, as stocks fall in Wall Street. At time of writing, the USD/CAD is trading at the 1.1090 area, recording a 0.3% gain on the day.
USD/CAD technical perspective
"USDCAD consolidates, short-term patterns start to look more positive, suggesting that a near-term base may be forming and that the broader bull trend is poised to resume", says the TD Securities team.
The USD/CAD rose more than 80 pips after bottoming out at 1.1030 and reached a high of 1.1110 in recent dealings, as stocks fall in Wall Street. At time of writing, the USD/CAD is trading at the 1.1090 area, recording a 0.3% gain on the day.
USD/CAD technical perspective
"USDCAD consolidates, short-term patterns start to look more positive, suggesting that a near-term base may be forming and that the broader bull trend is poised to resume", says the TD Securities team.