23 Aug 2013
USD/CAD little changed after Canadian CPI
FXstreet.com (Córdoba) - The USD/CAD was little changed after a reading of Canada's consumer price index for July came in slightly below expectations.
USD/CAD capped by 1.0567
USD/CAD edged a tad lower following CPI figures, pulling back from a 6-week high of 1.0567 to the 1.0540 area before finding support. The Canadian consumer price index grew 0.1% in July and 1.3% year-over-year, below expectations of 0.2% and 1.4% respectively.
At time of writing, USD/CAD is trading at the 1.0550 zone, where it is still 0.4% above its opening price. The USD/CAD is rising for sixth straight day on Friday, totaling over 250 pips since last Thursday.
USD/CAD technical levels
As for technical levels, USD/CAD immediate resistances line up at 1.0567 (daily high) and 1.0600 (psychological level), while supports are seen at 1.0530 (20-hour SMA) and 1.0500(psychological level).
USD/CAD capped by 1.0567
USD/CAD edged a tad lower following CPI figures, pulling back from a 6-week high of 1.0567 to the 1.0540 area before finding support. The Canadian consumer price index grew 0.1% in July and 1.3% year-over-year, below expectations of 0.2% and 1.4% respectively.
At time of writing, USD/CAD is trading at the 1.0550 zone, where it is still 0.4% above its opening price. The USD/CAD is rising for sixth straight day on Friday, totaling over 250 pips since last Thursday.
USD/CAD technical levels
As for technical levels, USD/CAD immediate resistances line up at 1.0567 (daily high) and 1.0600 (psychological level), while supports are seen at 1.0530 (20-hour SMA) and 1.0500(psychological level).