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USD/CAD reaches fresh 6-month highs

FXStreet (Córdoba) - USD/CAD climbed to fresh cycle highs as the greenback was supported by in line with expectations US GDP and consumer sentiment data.

USD/CAD extended gains and hit its highest level since March 26 at 1.1153 before easing a tad. At time of writing, USD/CAD is trading at 1.1145, up 0.33% on the day and recording a 1.64% weekly gain.

USD/CAD technical levels

In terms of technical levels, USD/CAD could find immediate resistance at 1.1170 (Mar 26 high) ahead of the psychological level at 1.1200. On the other hand, supports are seen at 1.1091 (Sept 26 low), 1.1052 (Sept 24 low) and 1.0985 (Sept 23 low).

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As FXStreet Chief Analyst Valeria Bednarik observes, after posting the daily low of 0.8747 on Friday, AUD/USD has bounced back to the 0.8770/75 region.
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