13 Jan 2016
USD/CAD eyes 1.4280 on EIA report
FXStreet (Edinburgh) - The Canadian dollar has accelerated its depreciation vs. the greenback today, lifting USD/CAD to test daily tops in the vicinity of 1.4280.
USD/CAD stronger post-EIA
CAD met renewed selling pressure after the EIA’s weekly report showed crude oil inventories have increased less than expected by 234K barrels during last week. The gloomy note however has come in from gasoline stockpiles, increasing by 8.438 million barrels vs. an anticipated increase of 2.70 million barrels.
Spot has gathered further upside pressure in the wake of the release, now trading closer to earlier 13-year tops above 1.4300 the figure.
USD/CAD significant levels
At the moment the pair is advacing 0.09% at 1.4271 with the next hurdle at 1.4316 (high Jan.12) followed by 1.4672 (high Apr.24 2003) and then 1.4946 (high Apr.7 2003). On the other hand, a breakdown of 1.3977 (20-day sma) would aim for 1.3793 (low Dec.24) and finally 1.3675 (3-month uptrend).
USD/CAD stronger post-EIA
CAD met renewed selling pressure after the EIA’s weekly report showed crude oil inventories have increased less than expected by 234K barrels during last week. The gloomy note however has come in from gasoline stockpiles, increasing by 8.438 million barrels vs. an anticipated increase of 2.70 million barrels.
Spot has gathered further upside pressure in the wake of the release, now trading closer to earlier 13-year tops above 1.4300 the figure.
USD/CAD significant levels
At the moment the pair is advacing 0.09% at 1.4271 with the next hurdle at 1.4316 (high Jan.12) followed by 1.4672 (high Apr.24 2003) and then 1.4946 (high Apr.7 2003). On the other hand, a breakdown of 1.3977 (20-day sma) would aim for 1.3793 (low Dec.24) and finally 1.3675 (3-month uptrend).