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Canadian Dollar Climbs To More Than 7-month High Against Greenback


The Canadian dollar edged sharply higher against its major rivals in early New York trading on Wednesday.

The loonie touched 0.9836 against the US dollar around 9:25 am ET, its highest level since September 19, 2011. On the upside, the Canadian currency may find target around the 0.9790 level.

Against the yen, the loonie touched nearly a 3-week high of 82.69 around the same time. The next upside target for the loonie-yen pair is seen around the 83.20 level.

The Canadian currency also extended previous session's 6-day high against the euro in early New York deals Wednesday, hitting as high as 1.3008 before holding steady around 9:20 am ET. If the loonie extends gains, it may target resistance around the 1.2960 level.

Published: 2012-04-25 14:33:00 UTC+00

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See also: Current support and resistance levels
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May 24 at 4:33 UTC
 
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