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Forex: USD/CAD rises to 5-day peak

FXstreet.com (Córdoba) - The US dollar continues to advance against its Canadian counterpart, having broken above the 1.0270 resistance area to reach its highest level in 5 days as risk sentiment began to ebb and stocks turned mixed in Wall Street following disappointing US housing data.

USD/CAD has climbed over 30 pips from lows and set a high of 1.0284 before easing slightly. At time of writing, the pair is trading around 1.0280, still up 0.3% on the day.

In terms of technical levels, next resistances for USD/CAD could be found at 1.0295 (Apr 13/17 highs) and 1.0315 (Mar 8 high), while on the downside, supports are seen at 1.0250 (100-hour SMA) and 1.0205 (10-day SMA).

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