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28 Jul 2015
USD/CAD finds support around 1.3000
FXStreet (Edinburgh) - The greenback is losing ground vs. its Canadian counterpart on Tuesday, relegating USD/CAD to the low-1.3000s so far.
USD/CAD attention to US releases
Absent relevant publications in the Canadian economy, the USD-dynamics will continue to be the almost exclusive driver for the pair’s price action ahead of today’s US docket, where housing prices, Services PMI and Consumer Confidence will take centre stage.
Since the recent fresh cycle highs just above the 1.3100 barrier, spot has corrected lower albeit finding strong support in the low-1.30s and upper-1.29s. However, it seems the pair will need a stronger catalyst to extend the upside beyond 1.3100.
USD/CAD key levels
As of writing the pair is retreating 0.17% at 1.3-14 and a breach of 1.2978 (low Jul.27) would open the door to 1.2954 (low Jul.23) ahead of 1.2934 (low Jul.22). On the flip side, the next up barrier lines up at 1.3057 (high Jul.27) followed by 1.3103 (high Jul.24).
USD/CAD attention to US releases
Absent relevant publications in the Canadian economy, the USD-dynamics will continue to be the almost exclusive driver for the pair’s price action ahead of today’s US docket, where housing prices, Services PMI and Consumer Confidence will take centre stage.
Since the recent fresh cycle highs just above the 1.3100 barrier, spot has corrected lower albeit finding strong support in the low-1.30s and upper-1.29s. However, it seems the pair will need a stronger catalyst to extend the upside beyond 1.3100.
USD/CAD key levels
As of writing the pair is retreating 0.17% at 1.3-14 and a breach of 1.2978 (low Jul.27) would open the door to 1.2954 (low Jul.23) ahead of 1.2934 (low Jul.22). On the flip side, the next up barrier lines up at 1.3057 (high Jul.27) followed by 1.3103 (high Jul.24).