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USD/CAD hits new 5-year highs

FXStreet (Córdoba) - USD/CAD extended gains into a sixth day and printed a 5-year high Wednesday, as the greenback strengthened across the board after a victory by Republicans in the United States' midterm elections.

USD/CAD resumed the rise following a consolidative stage and climbed to 1.1465, its highest level since July 2009, underpinned by USD strength and with lower oil prices weighing on the loonie. At time of writing, USD/CAD is trading at 1.1440, recording a 0.28% gain on the day.

USD/CAD levels to watch

In terms of technical levels, USD/CAD could find immediate resistances at 1.1465 (2014 high Nov 5), 1.1500 (psychological level) and 1.1530 (Jul 14 2009 high). On the flip side, supports are seen at 1.1390 (Nov 5 low), 1.1339 (Nov 4 low) and 1.1300 (psychological level).

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