3 May 2016
USD/CAD weaker, breaches 1.2500
The greenback remains on the defensive today, now pushing USD/CAD to break below the key support at 1.2500 the figure.
USD/CAD lower ahead of Poloz, API
The weakness surrounding the greenback plus the firm sentiment in crude oil prices remain a source of strength for CAD, in turn sending spot to levels last seen in July 2015 in the 1.2480 area.
Next on tap for the pair will be the speech by Governor S.Poloz and FOMC’s L.Mester, while the API’s weekly report on crude stockpiles is also due later in the NA session.
USD/CAD significant levels
As of writing the pair is losing 0.38% at 1.2482 and a breakdown of 1.2400 (psychological level) would aim for 1.2124 (monthly low Jun.24 2015). On the other hand, the next hurdle lines up at 1.2717 (20-day sma) followed by 1.2992 (high Apr.18) and then 1.3087 (55-day sma).
USD/CAD lower ahead of Poloz, API
The weakness surrounding the greenback plus the firm sentiment in crude oil prices remain a source of strength for CAD, in turn sending spot to levels last seen in July 2015 in the 1.2480 area.
Next on tap for the pair will be the speech by Governor S.Poloz and FOMC’s L.Mester, while the API’s weekly report on crude stockpiles is also due later in the NA session.
USD/CAD significant levels
As of writing the pair is losing 0.38% at 1.2482 and a breakdown of 1.2400 (psychological level) would aim for 1.2124 (monthly low Jun.24 2015). On the other hand, the next hurdle lines up at 1.2717 (20-day sma) followed by 1.2992 (high Apr.18) and then 1.3087 (55-day sma).