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FXstreet.com (Crdoba) - The Canadian Dollar traded at its highest level in 2 weeks against the Dollar. USD/CAD bottomed at 1.0510 earlier but then gained strength and started to rise, reaching a 2-week high at 1.0680 during the American session.
Despite this movement to the upside, the pair could not hold to such levels and retreated almost a hundred pips. The pair found support at 1.0590 and currently is hovering around 1.0600.
To the upside, resistance areas are located at 1.0650, 1.0700 and 1.0750. Support levels lie at 1.0590 and below at 1.0550 and 1.0525.
Forex: USD/CAD hits 2-week high and holds above 1.0600
Posted 2/25/2010 6:08 PM ET by from FXstreet.com
Despite this movement to the upside, the pair could not hold to such levels and retreated almost a hundred pips. The pair found support at 1.0590 and currently is hovering around 1.0600.
To the upside, resistance areas are located at 1.0650, 1.0700 and 1.0750. Support levels lie at 1.0590 and below at 1.0550 and 1.0525.
