27 Apr 2015
USD/CAD flat around 1.2160
FXStreet (Edinburgh) - The greenback is trading almost unchanged vs. its Canadian peer on Monday, with USD/CAD hovering over the 1.2160/65 band.
USD/CAD eyes on US releases
It will be a very light calendar in Canada this week, with only February’s GDP figures due on Thursday. Instead, the US calendar will remain the main driver of the pair in the near term, with the FOMC meeting and the first revision of the Annualized GDP during Q1 as the main highlights.
Spot is looking to stabilize after last week’s break below the 1.2300 key handle, although sellers found a tough support in the 1.2100/1.2090 band.
USD/CAD significant levels
At the moment the pair is retreating 0.12% at 1.2159 and a breach of 1.2135 (low Apr.23) would expose 1.2100 (psychological level) and finally 1.2088 (low Apr.17). On the flip side, the immediate hurdle aligns at 1.2208 (low Apr.22) followed by 1.2250 (high Apr.23) and then 1.2328 (high Apr.16).
USD/CAD eyes on US releases
It will be a very light calendar in Canada this week, with only February’s GDP figures due on Thursday. Instead, the US calendar will remain the main driver of the pair in the near term, with the FOMC meeting and the first revision of the Annualized GDP during Q1 as the main highlights.
Spot is looking to stabilize after last week’s break below the 1.2300 key handle, although sellers found a tough support in the 1.2100/1.2090 band.
USD/CAD significant levels
At the moment the pair is retreating 0.12% at 1.2159 and a breach of 1.2135 (low Apr.23) would expose 1.2100 (psychological level) and finally 1.2088 (low Apr.17). On the flip side, the immediate hurdle aligns at 1.2208 (low Apr.22) followed by 1.2250 (high Apr.23) and then 1.2328 (high Apr.16).