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Forex: USD/CAD reaches fresh 7-month high

The dollar extended gains versus its Canadian counterpart on Monday, despite US and Canada markets remain closed, and printed a fresh high for 2013 as USD/CAD picked up momentum after breaking above the 1.0085 resistance level.

USD/CAD also surpasses the 1.0100 psychological level and January double top to hit its highest level since July 2012 at 1.0115 in recent dealings. At time of writing, USD/CAD is trading around 1.0110, recording a 0.4% gain on the day.

As for technical levels, next resistances are seen at 1.0130 (Jul 20 high) and 1.0165 (Jul 26 high). On the downside, supports could be found at 1.0055 (intraday low) 1.0010 (10-day SMA) and 1.0000 (psychological level).

Europen markets closed mixed, euro around 1.3350

Markets in Euroland close in the mixed territory on Monday, as lack of direction prevailed among investors after empty docket in the euro zone and the inactivity of the US markets due to the President’s Day...
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Forex: US Dollar Index around 80.70

The US Dollar Index, which gauges the greenback against its major competitors, posted marginal gains in the reduced session on Monday, as the US markets are closed due to the President’s Day holiday...
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