26 Mar 2015
USD/CAD regains 1.2450
FXStreet (Edinburgh) - The US dollar is now attempting to recover some ground vs. its Canadian counterpart on Thursday, pushing USD/CAD back to mid-1.2400s.
USD/CAD paring losses, BoC eyed
After dipping to the area of 1.2410, the pair managed to gather traction and recover the 1.2450/60 band following auspicious results from the weekly report on the US labour market: Initial Claims dropped to 282K in the week ended on March 20, bettering forecasts at 290K and down from 291K in the previous week.
Next on tap will be the speech by BoC Governor S.Poloz followed by US services PMI tracked by Markit.
USD/CAD key levels
As of writing the pair is losing 0.58% at 1.2447 with the next support at 1.2410 (low Mar.26) ahead of 1.2407 (low Mar.5) and then 1.2388 (low Feb.26). On the flip side, a breakout of 1.2546 (high Mar.24) would expose 1.2594 (21-d MA) and finally 1.2600 (psychological level).
USD/CAD paring losses, BoC eyed
After dipping to the area of 1.2410, the pair managed to gather traction and recover the 1.2450/60 band following auspicious results from the weekly report on the US labour market: Initial Claims dropped to 282K in the week ended on March 20, bettering forecasts at 290K and down from 291K in the previous week.
Next on tap will be the speech by BoC Governor S.Poloz followed by US services PMI tracked by Markit.
USD/CAD key levels
As of writing the pair is losing 0.58% at 1.2447 with the next support at 1.2410 (low Mar.26) ahead of 1.2407 (low Mar.5) and then 1.2388 (low Feb.26). On the flip side, a breakout of 1.2546 (high Mar.24) would expose 1.2594 (21-d MA) and finally 1.2600 (psychological level).