4 Jun 2015
Jobless claims & CAD Ivey reaction: USD/CAD jumps to daily highs
FXStreet (Orlando) - The US Dollar is trading higher against the Canadian Dollar following the better than expected Jobless claims and Canadian Ivey PMI. The USD/CAD bounced off 1.2435 and it's currently testing daily highs at 1.2500.
Earlier in the day, the USD/CAD was sold at 1.2490 and the pair retraced to 1.2435; however, the pair managed to recover steam and trade back to previous levels. Currently, USD/CAD is trading at 1.2487, up 0.27% on the day, having posted a daily high at 1.2504 and low at 1.2433.
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
USD/CAD Forecast and Levels
If the pair extends advance above 1.2500, it will find resistances at 1.2510, 1.2530 and 1.2560. To the downside, support are at 1.2435, 1.2415 and 1.2400.
Pair is now focused on the Non Farm Payrolls June that will be published Friday. Non Farm Payrolls Forecast is for 225k new jobs in June.
Don’t miss Non Farm Payrolls June Coverage on Friday at 12:00 GMT (8 am ET). Register now!
Earlier in the day, the USD/CAD was sold at 1.2490 and the pair retraced to 1.2435; however, the pair managed to recover steam and trade back to previous levels. Currently, USD/CAD is trading at 1.2487, up 0.27% on the day, having posted a daily high at 1.2504 and low at 1.2433.
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
USD/CAD Forecast and Levels
If the pair extends advance above 1.2500, it will find resistances at 1.2510, 1.2530 and 1.2560. To the downside, support are at 1.2435, 1.2415 and 1.2400.
Pair is now focused on the Non Farm Payrolls June that will be published Friday. Non Farm Payrolls Forecast is for 225k new jobs in June.
Don’t miss Non Farm Payrolls June Coverage on Friday at 12:00 GMT (8 am ET). Register now!