3 May 2016
USD/CAD jumps to highs around 1.2550
The greenback is finally showing some signs of life, taking USD/CAD to fresh daily highs in the id-1.2500s.
USD/CAD attention to oil, risk
The current selling bias in crude oil prices has attenuated today’s upside pressure around CAD, with the barrel of the American benchmark now coming down to test fresh session lows near $44.20.
Additionally, the greenback has found buyers around the key support at the 92.00 handle when measured by the US Dollar Index, bolstering the current up move from multi-month lows.
USD/CAD significant levels
As of writing the pair is up 0.32% at 1.2570 facing the next up barrier at 1.2717 (20-day sma) followed by 1.2992 (high Apr.18) and then 1.3087 (55-day sma). On the flip side, a breakdown of 1.2461 (2016 low May 3) would aim for 1.2400 (psychological level) and finally 1.2124 (monthly low Jun.24 2015).
USD/CAD attention to oil, risk
The current selling bias in crude oil prices has attenuated today’s upside pressure around CAD, with the barrel of the American benchmark now coming down to test fresh session lows near $44.20.
Additionally, the greenback has found buyers around the key support at the 92.00 handle when measured by the US Dollar Index, bolstering the current up move from multi-month lows.
USD/CAD significant levels
As of writing the pair is up 0.32% at 1.2570 facing the next up barrier at 1.2717 (20-day sma) followed by 1.2992 (high Apr.18) and then 1.3087 (55-day sma). On the flip side, a breakdown of 1.2461 (2016 low May 3) would aim for 1.2400 (psychological level) and finally 1.2124 (monthly low Jun.24 2015).