30 Jul 2015
USD/CAD fades the spike to 1.3020
FXStreet (Edinburgh) - After an ephemeral visit to daily tops near 1.3020, USD/CAD has now returned to the 1.2980.75 band.
USD/CAD keeps gains on data
The pair keeps the trade in the upper-1.2900s so far, in spite of the US GDP missing expectations for the second quarter, expanding at an annual pace of 2.3% vs. 2.6% forecasted. A solid print from Initial Claims (267K) has extended further the upbeat momentum in the US labour market, also collaborating with today’s USD upside.
Spot is advancing for the second consecutive session so far, managing to rebound from yesterday’s deep sell-off to the 1.2860 area.
USD/CAD key levels
As of writing the pair is advancing 0.24% at 1.2976 with the initial hurdle at 1.3026 (high Jul.30) followed by 1.3043 (high Jul.28) and then 1.3046 (high Jul.23). On the other hand, a break below 1.2940 (low Jul.30) would pave the way to 1.2861 (low Jul.29) and finally 1.2728 (low Jul.16).
USD/CAD keeps gains on data
The pair keeps the trade in the upper-1.2900s so far, in spite of the US GDP missing expectations for the second quarter, expanding at an annual pace of 2.3% vs. 2.6% forecasted. A solid print from Initial Claims (267K) has extended further the upbeat momentum in the US labour market, also collaborating with today’s USD upside.
Spot is advancing for the second consecutive session so far, managing to rebound from yesterday’s deep sell-off to the 1.2860 area.
USD/CAD key levels
As of writing the pair is advancing 0.24% at 1.2976 with the initial hurdle at 1.3026 (high Jul.30) followed by 1.3043 (high Jul.28) and then 1.3046 (high Jul.23). On the other hand, a break below 1.2940 (low Jul.30) would pave the way to 1.2861 (low Jul.29) and finally 1.2728 (low Jul.16).