30 Apr 2015
USD/CAD struggles around 1.2100
FXStreet (Córdoba) - FXStreet (Córdoba) - USD/CAD broke above the 1.2100 level and reached fresh highs for the day as the dollar benefited from better-than-expected employment data for a change, following a series of disappointing indicators during the last weeks.
USD/CAD has climbed nearly 200 pips over the last sessions, after the Federal Reserve left the door open to a June rate hike, and it climbed from a 3-month low of 1.1943 to a high of 1.2135. The pair has retreated a tad and it is struggling to consolidate above the psychological level. USD/CAD was last trading at 1.2105, recording a 0.76% gain on the day.
USD/CAD technical perspective
“USD/CAD's rebound from below 1.20 is poised to extend; gains through 1.21 should put funds on track to recover towards 1.23 near-term”, said the TD Securities team.
USD/CAD has climbed nearly 200 pips over the last sessions, after the Federal Reserve left the door open to a June rate hike, and it climbed from a 3-month low of 1.1943 to a high of 1.2135. The pair has retreated a tad and it is struggling to consolidate above the psychological level. USD/CAD was last trading at 1.2105, recording a 0.76% gain on the day.
USD/CAD technical perspective
“USD/CAD's rebound from below 1.20 is poised to extend; gains through 1.21 should put funds on track to recover towards 1.23 near-term”, said the TD Securities team.