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Forex: USD/CAD back to highs

By FXstreet.com,  December 12, 2011, 09:43:00 AM EDT

FXstreet.com (Barcelona) - After printing a new December high at 1.0271, the USD/CAD retraced to 1.0225 area. The American session opened with a strong cross, looking to resume its move to the upside.

As investors flee from riskier assets, the greenback demand grows, thus a strong USD/CAD. At the moment of writing, the pair is quoting at 1.0277 high.

Mataf.net analysts point supports at 1.0220, 1.0185 and 1.0160. Resistance areas on the upside may be found at 1.0270, followed by 1.0320 and 1.0365.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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