Forex: USD/CAD rises above 0.9800 on risk aversion
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USD/CAD
FXstreet.com (Córdoba) - A new wave of risk aversion hit the markets, with stocks falling to fresh lows in Wall Street and the dollar strengthening across the board, especially versus commodity currencies.
USDCAD rose over 60 pips throughout the session accelerating to the upside in recent dealings and hit a 4-day high of 0.9806 before easing slightly. At time of writing, USDCAD is trading at the 0.9800 area, printing a 0.3% gain on Tuesday.
In terms of technical levels, on the upside, next resistances could be found at 0.9810, 0.9850 and 0.9875, while on the downside supports are seen at 0.9770, 0.9730 and 0.9700.
USDCAD rose over 60 pips throughout the session accelerating to the upside in recent dealings and hit a 4-day high of 0.9806 before easing slightly. At time of writing, USDCAD is trading at the 0.9800 area, printing a 0.3% gain on Tuesday.
In terms of technical levels, on the upside, next resistances could be found at 0.9810, 0.9850 and 0.9875, while on the downside supports are seen at 0.9770, 0.9730 and 0.9700.
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