26 Aug 2015
USD/CAD flirting with 1.3300
FXStreet (Edinburgh) - The greenback is now recovering some ground lost vs. its Canadian counterpart on Wednesday, with USD/CAD looking to regains the vicinity of 1.3300 the figure.
USD/CAD rebounds after US releases
The dollar found further support after US Durable Goods Orders surpassed initial estimates during July, expanding at a monthly pace of 2.0% vs. -0.4% forecasted and advancing 0.6% MoM excluding the Transportation sector.
The current recovery in crude oil prices is lending CAD some support, offering some respite amidst the ongoing weakness surrounding the commodities-related currencies.
USD/CAD levels to consider
At the moment the pair is losing 0.32% at 1.3294 with the immediate support at 1.3249 (low Aug.26) ahead of 1.3144 (low Aug.25) and then 1.3060 (low Aug.21). On the upside, a surpass of 1.3351 (high Aug.26) would expose 1.3400 (psychological level).
USD/CAD rebounds after US releases
The dollar found further support after US Durable Goods Orders surpassed initial estimates during July, expanding at a monthly pace of 2.0% vs. -0.4% forecasted and advancing 0.6% MoM excluding the Transportation sector.
The current recovery in crude oil prices is lending CAD some support, offering some respite amidst the ongoing weakness surrounding the commodities-related currencies.
USD/CAD levels to consider
At the moment the pair is losing 0.32% at 1.3294 with the immediate support at 1.3249 (low Aug.26) ahead of 1.3144 (low Aug.25) and then 1.3060 (low Aug.21). On the upside, a surpass of 1.3351 (high Aug.26) would expose 1.3400 (psychological level).