USD/CAD retraces daily gains

FXstreet.com (Córdoba) – The USD/CAD surrendered gains during the New York session as the greenback weakened broadly following disappointing US new home sales data.

USD/CAD pulls back from 6-week high to trade flat

USD/CAD, which had printed a fresh 6-week high of 1.0567, tumbled toward the 1.0505 zone before finding support and bouncing slightly. At time of writing, USD/CAD is trading at the 1.0520 area, where it is virtually unchanged on the day.

USD/CAD levels to watch

As for technical levels, USD/CAD immediate resistances line up at 1.0567 (daily high) and 1.0600 (psychological level), while supports are seen at 1.0500(psychological level) and 1.0470 …read more