17 Feb 2015
USD/CAD assaulting 1.2400
FXStreet (Edinburgh) - USD/CAD is extending its bounce off session lows, now looking to retake the 1.2400 key mark.
USD/CAD indifferent on data
The pair continues to trade in the red territory amidst better risk sentiment and a firmer tone from the crude oil prices. Data wise in North America, the manufacturing gauge tracked by the Empire State index dripped to 7.78 during the last month vs. estimates at 8.50; on the other side, Canadian transactions in foreign securities climbed to $13.89 billion during December.
Upcoming results will include the Housing Market index measured by NAHB, TIC Flows and the speech by Philly Fed Plosser.
USD/CAD key levels
The pair is now retreating 0.53% at 1.2398 and a dip beyond 1.2353 (low Feb.3) would open the door to 1.2302 (Kijun Sen) and then 1.2286 (23.6% of 1.0620-1.2800). On the flip side, the initial up barrier lines up at 1.2477 (21-d MA) ahead of 1.2536 (Tenkan Sen) and finally 1.2646 (high Feb.12).
USD/CAD indifferent on data
The pair continues to trade in the red territory amidst better risk sentiment and a firmer tone from the crude oil prices. Data wise in North America, the manufacturing gauge tracked by the Empire State index dripped to 7.78 during the last month vs. estimates at 8.50; on the other side, Canadian transactions in foreign securities climbed to $13.89 billion during December.
Upcoming results will include the Housing Market index measured by NAHB, TIC Flows and the speech by Philly Fed Plosser.
USD/CAD key levels
The pair is now retreating 0.53% at 1.2398 and a dip beyond 1.2353 (low Feb.3) would open the door to 1.2302 (Kijun Sen) and then 1.2286 (23.6% of 1.0620-1.2800). On the flip side, the initial up barrier lines up at 1.2477 (21-d MA) ahead of 1.2536 (Tenkan Sen) and finally 1.2646 (high Feb.12).