24 Mar 2015
http://www.fxstreet.com/news/forex-news/article.aspx?storyid=4b767672-81f8-47de-ae9d-911ada619022
FXStreet (Edinburgh) - After climbing to the area of 1.2540, USD/CAD is now shedding some more ground towards the 1.2500 neighbourhood.
USD/CAD still in red
Despite the US dollar managed to revert the initial negative tone vs. most of its main rivals, its Canadian counterpart remains firm backed by a recovery in crude oil prices, confining spot to the red territory.
After a brief dip to daily lows near 1.2420, better results in the US data releases today help the pair to recover the area of 1.2540, although the bull run lost some vigour afterwards.
USD/CAD relevant levels
At the moment the pair is retreating 0.20% at 1.2496 with the next support at 1.2428 (low Mar.24) ahead of 1.2419 (cloud top) and then 1.2400 (psychological level). On the upside, a breakout of 1.2595 (21-d MA) would open the door to 1.2598 (Kijun Sen) and finally 1.2615 (high Mar.23).
USD/CAD still in red
Despite the US dollar managed to revert the initial negative tone vs. most of its main rivals, its Canadian counterpart remains firm backed by a recovery in crude oil prices, confining spot to the red territory.
After a brief dip to daily lows near 1.2420, better results in the US data releases today help the pair to recover the area of 1.2540, although the bull run lost some vigour afterwards.
USD/CAD relevant levels
At the moment the pair is retreating 0.20% at 1.2496 with the next support at 1.2428 (low Mar.24) ahead of 1.2419 (cloud top) and then 1.2400 (psychological level). On the upside, a breakout of 1.2595 (21-d MA) would open the door to 1.2598 (Kijun Sen) and finally 1.2615 (high Mar.23).