27 Jan 2015
USD/CAD flirting with 1.2500
FXStreet (Edinburgh) - USD/CAD remains in the vicinity of 1.2500 the figure on Tuesday backed by a renewed buying interest around the US dollar.
USD/CAD focus on US data
Nothing really new to say regarding the impressive upside in the pair, all bolstered by the strong momentum in the US dollar and the recent shift to further monetary easing by the BoC, badly hurting the CAD as a consequence. Ahead in the session, US Durable Goods Orders and the Consumer Confidence will set the pace for the pair’s price action, with consensus expecting an expansion of 0.5% MoM and an improvement to 95.1, from -0.9% and 92.6, respectively.
USD/CAD levels to consider
At the moment the pair is advancing 0.15% at 1.2482 with the next hurdle at 1.2502 (2015 high Jan.27) ahead of 1.2507 (high Apr.21 2009) and then 1.2600 (psychological level). On the flip side, a breakdown of 1.2360 (low Jan.23) would open the door to 1.2315 (low Jan.22) and finally 1.2200 (psychological level).
USD/CAD focus on US data
Nothing really new to say regarding the impressive upside in the pair, all bolstered by the strong momentum in the US dollar and the recent shift to further monetary easing by the BoC, badly hurting the CAD as a consequence. Ahead in the session, US Durable Goods Orders and the Consumer Confidence will set the pace for the pair’s price action, with consensus expecting an expansion of 0.5% MoM and an improvement to 95.1, from -0.9% and 92.6, respectively.
USD/CAD levels to consider
At the moment the pair is advancing 0.15% at 1.2482 with the next hurdle at 1.2502 (2015 high Jan.27) ahead of 1.2507 (high Apr.21 2009) and then 1.2600 (psychological level). On the flip side, a breakdown of 1.2360 (low Jan.23) would open the door to 1.2315 (low Jan.22) and finally 1.2200 (psychological level).