7 May 2015
USD/CAD recovers towards 1.2100
FXStreet (Edinburgh) - The buying interest seems to return to the US dollar now, lifting USD/CAD to session highs near the 1.2100 handle.
USD/CAD firmer post data
The pair found its uptrend intensified after the US weekly report on the labour market showed Initial Claims dropping to 265K in the week ended on May 1st, vs. forecasts at 280K and 262K in the previous week.
The pair seems to have found strong support just below the 1.2000 handle so far this week, amidst generalized USD weakness and the Canadian dollar deriving support from crude oil prices.
USD/CAD key levels
At the moment the pair is advancing 0.21% at 1.2072 with the next hurdle at 1.2131 (high May 5) ahead of 1.2180 (high May 4) and then 1.2205 (high Apr.27). On the downside, a break below 1.2033 (low May 7) would open the door to 1.2000 (psychological level) and finally 1.1940 (low May 6).
USD/CAD firmer post data
The pair found its uptrend intensified after the US weekly report on the labour market showed Initial Claims dropping to 265K in the week ended on May 1st, vs. forecasts at 280K and 262K in the previous week.
The pair seems to have found strong support just below the 1.2000 handle so far this week, amidst generalized USD weakness and the Canadian dollar deriving support from crude oil prices.
USD/CAD key levels
At the moment the pair is advancing 0.21% at 1.2072 with the next hurdle at 1.2131 (high May 5) ahead of 1.2180 (high May 4) and then 1.2205 (high Apr.27). On the downside, a break below 1.2033 (low May 7) would open the door to 1.2000 (psychological level) and finally 1.1940 (low May 6).