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17 Apr 2015
USD/CAD consolidates below 1.2200
FXStreet (Edinburgh) - The greenback keeps underperforming its peers on Friday, now taking USD/CAD to the area of 1.2160/65.
USD/CAD focused on US, CAD releases
The pair accelerated the weekly descent amidst poor results in the US economy and the unexpected stance from the BoC, disappointing CAD-bears striking a less dovish than expected tone in its meeting mid-week.
The pair will remain under pressure in light of the inflation figures expected in the US and Canada during March. Further data in the US docket will show the CB Leading Indicator and the flash print of the Reuters/Michigan index.
USD/CAD significant levels
At the moment the pair is losing 0.12% at 1.2174 and a breakdown of 1.2100 (psychological level) would aim for 1.2062 (high Jan.19) and then 1.1940 (low Jan.20). On the upside, the initial hurdle lines up at 1.2250 (high Apr.17) ahead of 1.2350 (38.2% of 1.1565-1.2835) and then 1.2353 (low Feb.3).
USD/CAD focused on US, CAD releases
The pair accelerated the weekly descent amidst poor results in the US economy and the unexpected stance from the BoC, disappointing CAD-bears striking a less dovish than expected tone in its meeting mid-week.
The pair will remain under pressure in light of the inflation figures expected in the US and Canada during March. Further data in the US docket will show the CB Leading Indicator and the flash print of the Reuters/Michigan index.
USD/CAD significant levels
At the moment the pair is losing 0.12% at 1.2174 and a breakdown of 1.2100 (psychological level) would aim for 1.2062 (high Jan.19) and then 1.1940 (low Jan.20). On the upside, the initial hurdle lines up at 1.2250 (high Apr.17) ahead of 1.2350 (38.2% of 1.1565-1.2835) and then 1.2353 (low Feb.3).