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USD/CAD jumps to 11-month highs at 1.0375

FXstreet.com (San Francisco) - The US dollar is trading higher against its Canadian counterpart and after jumping around 120 pips in the latest two hours from 1.0250, the USD/CAD has jumped to the highest level since June 6th 2012 at 1.0375.

Currently, the USD/CAD is trading around 1.0370, 1.0% positive on the day. The short term perspective remains slightly bullish in the 15-minute chart according to the FXstreet.com trend index. Indicators such as MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish.

Above the 1.0375, next resistances are at 1.0400, 1.0425 and 1.0440. On the flip side, support levels align at 10237 (low May 21) followed by 1.0217 (low May 20) and then 1.0189 (MA10d).

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