17 Jun 2015
USD/CAD dips to lows post-Fed
FXStreet (Edinburgh) - The greenback is now quickly losing the grip vs. its rivals, dragging USD/CAD to session lows in the 1.2260 area.
USD/CAD now looks to Yellen
The pair has given away earlier gains following the FOMC statement, where the Committee has revised lower its forecasts for the US economic growth to 1.8%-2.0% for 2015 vs. 2.3%-2.7% previous. In addition, it’s lowered the rates projection, matching previous estimates.
Furthermore, the Committee saw the economy recovering at a moderate pace after the softness during the first months of the year, and said the slack in the labour market has ‘diminished somewhat’.
USD/CAD key levels
At the moment the pair is down 0.04% at 1.2290 with the next support at 1.2261 (low Jun.17) ahead of 1.2202 (low Jun.10) and finally 1.2173 (low May 22). On the flip side, a break above 1.2362 (high Jun.15) would aim for 1.2442 (high Jun.9) and then 1.2473 (high Jun.8).
USD/CAD now looks to Yellen
The pair has given away earlier gains following the FOMC statement, where the Committee has revised lower its forecasts for the US economic growth to 1.8%-2.0% for 2015 vs. 2.3%-2.7% previous. In addition, it’s lowered the rates projection, matching previous estimates.
Furthermore, the Committee saw the economy recovering at a moderate pace after the softness during the first months of the year, and said the slack in the labour market has ‘diminished somewhat’.
USD/CAD key levels
At the moment the pair is down 0.04% at 1.2290 with the next support at 1.2261 (low Jun.17) ahead of 1.2202 (low Jun.10) and finally 1.2173 (low May 22). On the flip side, a break above 1.2362 (high Jun.15) would aim for 1.2442 (high Jun.9) and then 1.2473 (high Jun.8).