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2 Sep 2015
USD/CAD in 2-day highs near 1.3280
FXStreet (Edinburgh) - The greenback continues to push higher vs. its neighbour on Wednesday, lifting USD/CAD to fresh highs near 1.3280.
USD/CAD focus on US docket, oil
The Canadian dollar remains on the back footing during the first half of the week, surrendering recent gains in response to the violent correction lower of crude oil prices, with the barrel of WTI currently dropping more than 2% and adding to yesterday’s sharp pullback.
Ahead in the session, the pair’s upside will be put to the test in light of the releases in the US economy: ADP report, Factory Orders and the Fed’s Beige Book.
USD/CAD levels to consider
At the moment the pair is advancing 0.07% at 1.3269 facing the next resistance at 1.3295 (high Aug.27) ahead of 1.3327 (high Aug.31) and finally 1.3343 (high Aug.26). On the other hand, a break below 1.3213 (low Sep.2) would pave the way towards 1.3116 (low Aug.31) and then 1.3056 (low Aug.21).
USD/CAD focus on US docket, oil
The Canadian dollar remains on the back footing during the first half of the week, surrendering recent gains in response to the violent correction lower of crude oil prices, with the barrel of WTI currently dropping more than 2% and adding to yesterday’s sharp pullback.
Ahead in the session, the pair’s upside will be put to the test in light of the releases in the US economy: ADP report, Factory Orders and the Fed’s Beige Book.
USD/CAD levels to consider
At the moment the pair is advancing 0.07% at 1.3269 facing the next resistance at 1.3295 (high Aug.27) ahead of 1.3327 (high Aug.31) and finally 1.3343 (high Aug.26). On the other hand, a break below 1.3213 (low Sep.2) would pave the way towards 1.3116 (low Aug.31) and then 1.3056 (low Aug.21).