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15 Jan 2015
USD/CAD supported at 1.1800
FXStreet (Edinburgh) - After bottoming out in the boundaries of 1.1800 the figure, USD/CAD managed to pick up pace again and retake the 1.1900 handle and beyond.
USD/CAD recovers after US data
The, in general, good performance of the US docket today gave the greenback the much needed oxygen, allowing the current rebound to the 1.1940 neighbourhood after falling as low as 1.1800 prior to the releases.
In the view of Camilla Sutton, Chief FX Strategist at Scotiabank, “, USDCAD is showing early cautionary signs and should be watched closely. Support lies at Monday’s open of 1.1863 and resistance comes in at the recent high of
1.2017”.
USD/CAD relevant levels
As of writing the pair is down 0.05% at 1.1938 and a breach of 1.1874 (10-d MA) would expose 1.1836 (low Jan.12). On the flip side, the next hurdle lines up at 1.2001 (hourly high Jan.14) ahead of 1.2017 (2015 high Jan.14) and then 1.2070 (low Apr.24 2009).
USD/CAD recovers after US data
The, in general, good performance of the US docket today gave the greenback the much needed oxygen, allowing the current rebound to the 1.1940 neighbourhood after falling as low as 1.1800 prior to the releases.
In the view of Camilla Sutton, Chief FX Strategist at Scotiabank, “, USDCAD is showing early cautionary signs and should be watched closely. Support lies at Monday’s open of 1.1863 and resistance comes in at the recent high of
1.2017”.
USD/CAD relevant levels
As of writing the pair is down 0.05% at 1.1938 and a breach of 1.1874 (10-d MA) would expose 1.1836 (low Jan.12). On the flip side, the next hurdle lines up at 1.2001 (hourly high Jan.14) ahead of 1.2017 (2015 high Jan.14) and then 1.2070 (low Apr.24 2009).