25 May 2015
USD/CAD climbs to highs near 1.2320
FXStreet (Edinburgh) - The greenback is extending its upside momentum vs. its Canadian counterpart at the beginning of the week, now sending USD/CAD to daily tops near 1.2320.
USD/CAD eyes on BoC, US data
The pair has recovered levels beyond 1.2300 the figure and remains on track to challenge 6-week peaks near 1.2330 following the firm tone in the US dollar.
The pair has been bolstered further after Fed’s Vice Chairman S.Fischer argued the actual debate is between a late rates lift-off albeit steep, and an earlier one followed by more gradual increments.
Next of relevance for the pair will be US Durable Goods Orders and New Home Sales on Tuesday and the BoC monetary policy meeting on Wednesday.
USD/CAD key levels
The pair is now gaining 0.25% at 1.2312 with the next hurdle at 1.2327 (high Apr.16) followed by 1.2570 (high Apr.15) and finally1.2602 (high Apr.14). On the flip side, a breach of 1.2200 (psychological level) would expose 1.2173 (low May 22) and then 1.2170 (low May 20).
USD/CAD eyes on BoC, US data
The pair has recovered levels beyond 1.2300 the figure and remains on track to challenge 6-week peaks near 1.2330 following the firm tone in the US dollar.
The pair has been bolstered further after Fed’s Vice Chairman S.Fischer argued the actual debate is between a late rates lift-off albeit steep, and an earlier one followed by more gradual increments.
Next of relevance for the pair will be US Durable Goods Orders and New Home Sales on Tuesday and the BoC monetary policy meeting on Wednesday.
USD/CAD key levels
The pair is now gaining 0.25% at 1.2312 with the next hurdle at 1.2327 (high Apr.16) followed by 1.2570 (high Apr.15) and finally1.2602 (high Apr.14). On the flip side, a breach of 1.2200 (psychological level) would expose 1.2173 (low May 22) and then 1.2170 (low May 20).