18 Feb 2015
USD/CAD tested 1.2390 on minutes
FXStreet (Edinburgh) - The greenback accelerated its decline vs. the Canadian dollar on Wednesday, with USD/CAD now recovering from lows around 1.2390.
USD/CAD weaker post-FOMC
The pair tested fresh intraday lows in sub-1.1400 levels following the dovish statement from the FOMC minutes today. The Committee sees risk of further strengthening of the US dollar and many members were inclined to leave the rates at current levels for a longer period. The FOMC also suggested that the policy should stay data dependent.
USD/CAD key levels
As of writing the pair is advancing 0.35% at 1.2417 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 weaker post-FOMC
The pair tested fresh intraday lows in sub-1.1400 levels following the dovish statement from the FOMC minutes today. The Committee sees risk of further strengthening of the US dollar and many members were inclined to leave the rates at current levels for a longer period. The FOMC also suggested that the policy should stay data dependent.
USD/CAD key levels
As of writing the pair is advancing 0.35% at 1.2417 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).