21 May 2015
USD/CAD erases daily gains
FXStreet (Córdoba) - The Canadian dollar managed to erase intraday losses versus the greenback helped by oil recovery, although it remains near 1-month highs.
Neither FOMC minutes nor US data released today was able to trigger decent moves, confining USD/CAD to a phase of consolidation around the 1.2200 level. USD/CAD did climbed to a high of 1.2241 during the European session, but failed to sustain gains.
USD/CAD technical levels
At time of writing, USD/CAD is trading at the 1.2200 zone, virtually unchanged on the day. As for technical levels, immediate supports are seen at 1.2167 (May 20 low), 1.2129 (May 19 low) and 1.2100 (psychological level). On the flip side, resistances could be found at 1.2255 (May 20 high), 1.2300 (psychological level) and 1.2340 (100-day SMA).
Neither FOMC minutes nor US data released today was able to trigger decent moves, confining USD/CAD to a phase of consolidation around the 1.2200 level. USD/CAD did climbed to a high of 1.2241 during the European session, but failed to sustain gains.
USD/CAD technical levels
At time of writing, USD/CAD is trading at the 1.2200 zone, virtually unchanged on the day. As for technical levels, immediate supports are seen at 1.2167 (May 20 low), 1.2129 (May 19 low) and 1.2100 (psychological level). On the flip side, resistances could be found at 1.2255 (May 20 high), 1.2300 (psychological level) and 1.2340 (100-day SMA).