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2 Apr 2015
USD/CAD extends beyond 1.2600
FXStreet (Edinburgh) - The US dollar is regaining the 1.2600 handle vs. its Canadian neighbor on Thursday, lifting USD/CAD to session tops around 1.2635/40.
USD/CAD looks to US, CAD data
The pair is recovering from the weekly tops near 1.2800 the figure posted on Tuesday, managing to bounce off lows around 1.2570. Today’s drop in crude oil prices is adding selling pressure to the Canadian dollar, pushing spot higher despite the generalized offered tone in the USD.
Ahead in the session, US initial Claims, Trade Balance and Factory Orders are due, along with Canadian Trade Balance figures.
USD/CAD relevant levels
At the moment the pair is up 0.15% at 1.2640 with the initial up barrier at 1.2653 (low Mar.31) followed by 1.2711 (high Apr.1) and finally 1.2724 (high Mar.20). On the flip side, a breakdown of 1.2584 (low Apr.2) would aim for 1.2578 (low Apr.1) and then 1.2468 (low Mar.27).
USD/CAD looks to US, CAD data
The pair is recovering from the weekly tops near 1.2800 the figure posted on Tuesday, managing to bounce off lows around 1.2570. Today’s drop in crude oil prices is adding selling pressure to the Canadian dollar, pushing spot higher despite the generalized offered tone in the USD.
Ahead in the session, US initial Claims, Trade Balance and Factory Orders are due, along with Canadian Trade Balance figures.
USD/CAD relevant levels
At the moment the pair is up 0.15% at 1.2640 with the initial up barrier at 1.2653 (low Mar.31) followed by 1.2711 (high Apr.1) and finally 1.2724 (high Mar.20). On the flip side, a breakdown of 1.2584 (low Apr.2) would aim for 1.2578 (low Apr.1) and then 1.2468 (low Mar.27).