12 Feb 2015
USD/CAD consolidates below 1.2500
FXStreet (Edinburgh) - The US dollar remains on the lower bound of the intraday range vs. its Canadian counterpart on Thursday, sending USD/CAD to the 1.2480 area.
USD/CAD supported at 1.2450
After dipping to the mid-1.2400s the pair seems to have found some buying interest, allowing a rebound to the current 1.2480 neighborhood. A better tone from the crude oil prices is sustaining today’s CAD appreciation, whereas poor results from the US docket intensified the selling pressure around the US dollar.
Fairly interesting docket awaits investors on Friday: Manufacturing Shipments are due in Canada, while Export/Import Prices and the Consumer Sentiment tracked by the Reuters/Michigan index will be in the limelight in the US economy.
USD/CAD key levels
As the time of writing the pair is retreating 1.27% at 1.2479 and a break below 1.2451 (low Feb.10) would target 1.2439 (low Feb.12) en route to 1.2428 (low Feb.9). On the upside, the initial hurdle aligns at 1.2646 (high Feb.12) followed by 1.2697 (high Feb.11) and finally 1.2772 (high Feb.2).
USD/CAD supported at 1.2450
After dipping to the mid-1.2400s the pair seems to have found some buying interest, allowing a rebound to the current 1.2480 neighborhood. A better tone from the crude oil prices is sustaining today’s CAD appreciation, whereas poor results from the US docket intensified the selling pressure around the US dollar.
Fairly interesting docket awaits investors on Friday: Manufacturing Shipments are due in Canada, while Export/Import Prices and the Consumer Sentiment tracked by the Reuters/Michigan index will be in the limelight in the US economy.
USD/CAD key levels
As the time of writing the pair is retreating 1.27% at 1.2479 and a break below 1.2451 (low Feb.10) would target 1.2439 (low Feb.12) en route to 1.2428 (low Feb.9). On the upside, the initial hurdle aligns at 1.2646 (high Feb.12) followed by 1.2697 (high Feb.11) and finally 1.2772 (high Feb.2).