25 Aug 2015
USD/CAD in fresh cycle highs above 1.3300
FXStreet (Edinburgh) - The Canadian dollar is posting fresh cycle lows vs. its US neighbour on Tuesday, lifting USD/CAD to the 1.3320/25 area.
USD/CAD boosted by USD, PBoC
The pair is posting more than 11-year highs beyond 1.3320 following a strong bid sentiment around the US dollar while the current recovery in crude oil prices is failing to lend some support to the Canadian dollar.
The greenback has found extra support after US Consumer Confidence climbed to multi-month tops at 101.5 for the current month, levels last seen in January, quickly shrugging off below-expectations results from the US housing sector and Markit’s Services PMI.
USD/CAD levels to consider
At the moment the pair is up 0.24% at 1.3319 with the next hurdle at 1.3400 (psychological level). On the flip side, a breakdown of 1.3144 (low Aug.25) would target 1.3060 (low Aug.21) en route to 1.3022 (low Aug.19).
USD/CAD boosted by USD, PBoC
The pair is posting more than 11-year highs beyond 1.3320 following a strong bid sentiment around the US dollar while the current recovery in crude oil prices is failing to lend some support to the Canadian dollar.
The greenback has found extra support after US Consumer Confidence climbed to multi-month tops at 101.5 for the current month, levels last seen in January, quickly shrugging off below-expectations results from the US housing sector and Markit’s Services PMI.
USD/CAD levels to consider
At the moment the pair is up 0.24% at 1.3319 with the next hurdle at 1.3400 (psychological level). On the flip side, a breakdown of 1.3144 (low Aug.25) would target 1.3060 (low Aug.21) en route to 1.3022 (low Aug.19).