28 Apr 2015
USD/CAD consolidates at lows near 1.2000
FXStreet (Córdoba) - USD/CAD took a step lower during the American session and printed fresh 3-month lows as the greenback weakened broadly following worse-than-expected confidence data.
USD/CAD was rejected from above 1.2100 and dropped more a hundred pips throughout the day to a low of 1.2014 before finding support. USD/CAD has spent the last hours in a slim range near lows and it was last trading down 0.45% at 1.2030.
Investors’ focus turns to US GDP figures and FOMC monetary policy on Wednesday, which will drive USD moves over the next sessions. Concerns the US economy is stalling and fading expectations of a June lift-off have kept the greenback on the defensive during the last weeks.
USD/CAD technical levels
In terms of technical levels, immediate supports are seen at 1.2000 (psychological level) and 1.1985 (Jan 9 low). On the flip side, resistances could be found at 1.2100 (psychological level/intraday resistance) and 1.2116 (daily high).
USD/CAD was rejected from above 1.2100 and dropped more a hundred pips throughout the day to a low of 1.2014 before finding support. USD/CAD has spent the last hours in a slim range near lows and it was last trading down 0.45% at 1.2030.
Investors’ focus turns to US GDP figures and FOMC monetary policy on Wednesday, which will drive USD moves over the next sessions. Concerns the US economy is stalling and fading expectations of a June lift-off have kept the greenback on the defensive during the last weeks.
USD/CAD technical levels
In terms of technical levels, immediate supports are seen at 1.2000 (psychological level) and 1.1985 (Jan 9 low). On the flip side, resistances could be found at 1.2100 (psychological level/intraday resistance) and 1.2116 (daily high).