The USD/CAD retreated a tad and turned flat for the day after hitting its highest level since August 2010 during the European session. The USD/CAD peaked at 1.0663 but lost momentum and retreated slightly to enter a consolidation phase contained by 1.0630 on the downside over the last hours. At time of writing, the USD/CAD is trading at the 1.0655 zone, still up 0.1% on the day and with only second-tier data scheduled for the NY session.
In terms of technical levels, the USD/CAD could find immediate resistances at 1.0663 (daily high) and 1.0669 (Aug 31 2010 high) followed by 1.0678 (Jul 5 & 6 2010 highs) and 1.0700 (psychological level). On the flip side, supports are seen at 1.0630 (daily low) and 1.0600 (psychological level)