23 Jul 2015
USD/CAD steadies above 1.3000 after roundtrip to 1.2945
FXStreet (Córdoba) - The US dollar managed to erase completely intraday losses against the loonie with USD/CAD back above 1.3000, barely unchanged on the day, after a strong US jobless claims reading.
USD/CAD took a roundtrip to 1.2945 throughout the day tracking USD weakness that faded right after the release of US data. US initial jobless claims dropped to 255,000 in the week ending July 18, hitting its lowest level since Nov 1973, offsetting Canada’s solid retail sales figures.
However, the dollar stalled shy of Asian session highs and remained capped by 1.3035. At time of writing, USD/CAD is trading at 1.3025, virtually unchanged on the day.
USD/CAD technical levels
As for technical levels, next resistances are seen at 1.3051 (6-year high Jul 22) and 1.3100 (psychological level). On the flip side, supports could be found at 1.2945 (Jul 23 low) and 1.2900 (psychological level/10-day SMA).
USD/CAD took a roundtrip to 1.2945 throughout the day tracking USD weakness that faded right after the release of US data. US initial jobless claims dropped to 255,000 in the week ending July 18, hitting its lowest level since Nov 1973, offsetting Canada’s solid retail sales figures.
However, the dollar stalled shy of Asian session highs and remained capped by 1.3035. At time of writing, USD/CAD is trading at 1.3025, virtually unchanged on the day.
USD/CAD technical levels
As for technical levels, next resistances are seen at 1.3051 (6-year high Jul 22) and 1.3100 (psychological level). On the flip side, supports could be found at 1.2945 (Jul 23 low) and 1.2900 (psychological level/10-day SMA).