18 Feb 2015
USD/CAD in highs near 1.2450
FXStreet (Edinburgh) - The greenback is pushing higher vs. its Canadian counterpart on Wednesday, lifting USD/CAD to session highs around 1.2450.
USD/CAD focus on US data, FOMC
The pair is reverting part of yesterday’s pullback to multi-day lows in the 1.2360 region following a sharp sell off in the greenback. Ahead in the session, key US data releases will keep the pair in the spotlight, all preceding the critical FOMC minutes due in the European evening.
“Momentum remains negatively biased across short to medium term time frames, suggesting the downward correction is not yet complete”, noted strategists at Westpac.
USD/CAD key levels
As of writing the pair is advancing 0.46% at 1.2431 and a surpass of 1.2480 (high Feb.17) would open the door to 1.2493 (21-d MA) and then 1.2529 (Tenkan Sen). On the flip side, the immediate support lines up at 1.2360 (low Feb.17) ahead of 1.2353 (low Feb.3) and finally 1.2302 (Kijun Sen).
USD/CAD focus on US data, FOMC
The pair is reverting part of yesterday’s pullback to multi-day lows in the 1.2360 region following a sharp sell off in the greenback. Ahead in the session, key US data releases will keep the pair in the spotlight, all preceding the critical FOMC minutes due in the European evening.
“Momentum remains negatively biased across short to medium term time frames, suggesting the downward correction is not yet complete”, noted strategists at Westpac.
USD/CAD key levels
As of writing the pair is advancing 0.46% at 1.2431 and a surpass of 1.2480 (high Feb.17) would open the door to 1.2493 (21-d MA) and then 1.2529 (Tenkan Sen). On the flip side, the immediate support lines up at 1.2360 (low Feb.17) ahead of 1.2353 (low Feb.3) and finally 1.2302 (Kijun Sen).