12 Nov 2015
USD/CAD off highs on Yellen
FXStreet (Edinburgh) - After hitting fresh highs in the proximity of 1.3350, USD/CAD has now returned to the 1.3320/15 band in response to the speech by J.Yellen.
USD/CAD firmer on oil, softer on Fed
Spot left the area of weekly highs after Chairwoman J.Yellen has given no clues regarding the timing of the potential Fed’s lift-off, removing some upside momentum from USD.
On the other hand, the selling mood remains intact around CAD following another slump in crude oil prices. This time the barrel of West Texas Intermediate is currently losing nearly 2.5% and trading in sub-$42.00 levels.
USD/CAD levels to consider
As of writing, the pair is up 0.34% at 1.3312 with the next hurdle at 1.3355 (high Aug.25) ahead of 1.3400 (psychological level) and then 1.3458 (high Sep.29). On the flip side, a break below 1.3182 (55-day sma) would open the door to 1.3069 (61.8% Fibo of 1.3459-1.2827) and finally 1.2996 (5-month uptrend).
USD/CAD firmer on oil, softer on Fed
Spot left the area of weekly highs after Chairwoman J.Yellen has given no clues regarding the timing of the potential Fed’s lift-off, removing some upside momentum from USD.
On the other hand, the selling mood remains intact around CAD following another slump in crude oil prices. This time the barrel of West Texas Intermediate is currently losing nearly 2.5% and trading in sub-$42.00 levels.
USD/CAD levels to consider
As of writing, the pair is up 0.34% at 1.3312 with the next hurdle at 1.3355 (high Aug.25) ahead of 1.3400 (psychological level) and then 1.3458 (high Sep.29). On the flip side, a break below 1.3182 (55-day sma) would open the door to 1.3069 (61.8% Fibo of 1.3459-1.2827) and finally 1.2996 (5-month uptrend).