16 Jun 2015
USD/CAD remains capped by 1.2345
FXStreet (Córdoba) - USD/CAD managed to recover from daily lows and erased intraday losses, although the upside was capped once again by the 1.2345 level.
USD/CAD bounced off a daily low of 1.2304 and climbed about 40 pips over the last hours, coincidentally with a pullback in oil prices, but it found resistance at 1.2345 and was confined to a phase of consolidation. At time of writing, the pair is trading at 1.2335, up 0.11% on the day.
Trading remains subdued, with majors consolidating within familiar ranges as investors gear up for tomorrow’s FOMC meeting.
USD/CAD technical levels
As for technical levels, if USD/CAD breaks above 1.2345 (Jun 16 high), next resistances are seen at 1.2360 (Jun 15 high) and 1.2400 (psychological level). On the downside, immediate supports could be found at 1.2304 (Jun 16 low), 1.2296 (Jun 15 low) and then 1.2276 (Jun 12 low).
USD/CAD bounced off a daily low of 1.2304 and climbed about 40 pips over the last hours, coincidentally with a pullback in oil prices, but it found resistance at 1.2345 and was confined to a phase of consolidation. At time of writing, the pair is trading at 1.2335, up 0.11% on the day.
Trading remains subdued, with majors consolidating within familiar ranges as investors gear up for tomorrow’s FOMC meeting.
USD/CAD technical levels
As for technical levels, if USD/CAD breaks above 1.2345 (Jun 16 high), next resistances are seen at 1.2360 (Jun 15 high) and 1.2400 (psychological level). On the downside, immediate supports could be found at 1.2304 (Jun 16 low), 1.2296 (Jun 15 low) and then 1.2276 (Jun 12 low).