28 Jun 2013
USD/CAD indifferent after GDP
Fxstreet.com (Edinburgh) - The USD/CAD attempted a short-lived knee-jerk to the area of 1.0465/70 on Friday, after the GDP figures matched the median.
USD/CAD capped around 1.0500
The Canadian economic activity expanded 0.1% during May, banging on forecasts although lower than April’s expansion of 0.2%. The pair moved quickly to the 1.0465/70 region in the wake of the data, although returning to the 1.0480/90 range soon afterwards. It is worth noting that the area of 1.0500/10 has been quite a tough barrier in the last sessions.
USD/CAD key levels
As of writing the pair is up 0.01% at 1.0477 with then next resistance at 1.0505 (high Junb.27) ahead of 1.0528 (high Jun.26) and finally 1.0548 (high Jun.25). On the downside, a violation of 1.0423 (low Jun.27) would expose 1.0395 (38.2% of 1.0137-1.0556) and then 1.0364 (low Jun.24).
USD/CAD capped around 1.0500
The Canadian economic activity expanded 0.1% during May, banging on forecasts although lower than April’s expansion of 0.2%. The pair moved quickly to the 1.0465/70 region in the wake of the data, although returning to the 1.0480/90 range soon afterwards. It is worth noting that the area of 1.0500/10 has been quite a tough barrier in the last sessions.
USD/CAD key levels
As of writing the pair is up 0.01% at 1.0477 with then next resistance at 1.0505 (high Junb.27) ahead of 1.0528 (high Jun.26) and finally 1.0548 (high Jun.25). On the downside, a violation of 1.0423 (low Jun.27) would expose 1.0395 (38.2% of 1.0137-1.0556) and then 1.0364 (low Jun.24).