4 Aug 2015
USD/CAD unstoppable, tests 1.3200
FXStreet (Edinburgh) - The greenback has picked up further pace vs. its Canadian neighbor on Tuesday, lifting USD/CAD to fresh multi-year tops just above 1.3200 the figure.
USD/CAD propped up by USD-buying
A wave of renewed buying interest around the dollar in response to comments by Atlanta Fed D.Lockhart has boosted spot to levels last seen more than a decade ago (July 2004) beyond the 1.3200 handle.
The Canadian dollar continues to suffer poor figures in the domestic economy and a persistent weakness in crude oil prices, all collaborating with the upside momentum in the pair.
USD/CAD relevant levels
At the moment the pair is advancing 0.24% at 1.3187 with the next hurdle at 1.3203 (high Aug.3) ahead of 1.3344 (monthly high July 2004) and then 1.3515 (monthly high January 2004). On the other hand, a breach of 1.3103 (low Aug.4) would aim for 1.2940 (low Jul.31) and finally 1.2861 (low Jul.29).
USD/CAD propped up by USD-buying
A wave of renewed buying interest around the dollar in response to comments by Atlanta Fed D.Lockhart has boosted spot to levels last seen more than a decade ago (July 2004) beyond the 1.3200 handle.
The Canadian dollar continues to suffer poor figures in the domestic economy and a persistent weakness in crude oil prices, all collaborating with the upside momentum in the pair.
USD/CAD relevant levels
At the moment the pair is advancing 0.24% at 1.3187 with the next hurdle at 1.3203 (high Aug.3) ahead of 1.3344 (monthly high July 2004) and then 1.3515 (monthly high January 2004). On the other hand, a breach of 1.3103 (low Aug.4) would aim for 1.2940 (low Jul.31) and finally 1.2861 (low Jul.29).