18 May 2015
USD/CAD consolidates near 1.2150
FXStreet (Edinburgh) - The US dollar keeps the upbeat momentum on Monday, now sending USD/CAD to the area of session tops near 1.2150.
USD/CAD propped up by dollar
The greenback continues to rebound from last week’s multi-month troughs, not only regaining the 1.2100 handle but also advancing to fresh 2-week peaks around 1.2160.
On the data front, US Housing Market Index by NAHB came in lower at 54 for the current month vs. April’s 56 and 57 previously estimated. Looking to Tuesday’s calendar, the US housing sector will remain in the limelight as Housing Starts (1.01 M exp.) and Building Permits (1.072 M) are due preceding the speech by Governor S.Poloz.
USD/CAD levels to consider
The pair is now up 1.08% at 1.2144 facing the next hurdle at 1.2165 (high May 18) followed by 1.2205 (high May 1) and then 1.2305 (high Apr. 21). On the other hand, a breach of 1.2005 (low May 18) would target 1.1982 (low May 15) en route to 1.1920 (low May 14).
USD/CAD propped up by dollar
The greenback continues to rebound from last week’s multi-month troughs, not only regaining the 1.2100 handle but also advancing to fresh 2-week peaks around 1.2160.
On the data front, US Housing Market Index by NAHB came in lower at 54 for the current month vs. April’s 56 and 57 previously estimated. Looking to Tuesday’s calendar, the US housing sector will remain in the limelight as Housing Starts (1.01 M exp.) and Building Permits (1.072 M) are due preceding the speech by Governor S.Poloz.
USD/CAD levels to consider
The pair is now up 1.08% at 1.2144 facing the next hurdle at 1.2165 (high May 18) followed by 1.2205 (high May 1) and then 1.2305 (high Apr. 21). On the other hand, a breach of 1.2005 (low May 18) would target 1.1982 (low May 15) en route to 1.1920 (low May 14).