22 Jul 2015
USD/CAD in fresh 2015 highs near 1.3040
FXStreet (Edinburgh) - The US dollar is now gathering further traction against its neighbour, pushing USD/CAD to fresh cycle highs near 1.3040.
USD/CAD boosted by dollar, commodities
The pair has resumed the upside interrupted yesterday, advancing further beyond the critical 1.3000 handle sustained by the buying interest around the greenback and the softer tone in the commodities space, where the barrel of WTI is testing the $50.00 support.
Data wise in the US economy, Existing Home Sales is due next, with consensus expecting sales to have expanded 1.2% from May to June, or 5.4 million units.
USD/CAD key levels
As of writing the pair is advancing 0.55% at 1.3020 with the next hurdle at 1.3035 (high Jul.22) followed by 1.3065 (monthly high Mar.2010) and then 1.3100 (psychological level). On the other hand, a breakdown of 1.2934 (low Jul.22) would open the door to 1.2905 (low Jul.16) and finally 1.2728 (low Jul.15).
USD/CAD boosted by dollar, commodities
The pair has resumed the upside interrupted yesterday, advancing further beyond the critical 1.3000 handle sustained by the buying interest around the greenback and the softer tone in the commodities space, where the barrel of WTI is testing the $50.00 support.
Data wise in the US economy, Existing Home Sales is due next, with consensus expecting sales to have expanded 1.2% from May to June, or 5.4 million units.
USD/CAD key levels
As of writing the pair is advancing 0.55% at 1.3020 with the next hurdle at 1.3035 (high Jul.22) followed by 1.3065 (monthly high Mar.2010) and then 1.3100 (psychological level). On the other hand, a breakdown of 1.2934 (low Jul.22) would open the door to 1.2905 (low Jul.16) and finally 1.2728 (low Jul.15).