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14 May 2015
USD/CAD tested 1.1970 on data
FXStreet (Edinburgh) - USD/CAD briefly tested session highs in the area of 1.1970 following the US docket on Thursday.
USD/CAD now focuses on BoC
The pair attempted a correction higher although it’s proven to be ephemeral after the better than expected Initial Claims in the US economy, dropping more than estimated 265K in the week ended on May 8. On the opposite direction, US Producer Prices contracted more than initially anticipated 0.4% MoM and 1.3% on a year to April.
Canadian New Housing Price Index came in flat on a monthly basis and gained 1.2% YoY. Ahead in the session, the semi-annual BoC Review is next preceding the speech by BoC’s L.Patterson.
USD/CAD levels to watch
At the moment the pair is losing 0.13% at 1.1941 and a breakdown of 1.1918 (low May 14) would open the door to 1.1900 (psychological level) and then 1.1836 (low Jan.12). On the other hand, the next resistance aligns at 1.2028 (high May 13) ahead of 1.2107 (high May 12) and then 1.2128 (21-d MA).
USD/CAD now focuses on BoC
The pair attempted a correction higher although it’s proven to be ephemeral after the better than expected Initial Claims in the US economy, dropping more than estimated 265K in the week ended on May 8. On the opposite direction, US Producer Prices contracted more than initially anticipated 0.4% MoM and 1.3% on a year to April.
Canadian New Housing Price Index came in flat on a monthly basis and gained 1.2% YoY. Ahead in the session, the semi-annual BoC Review is next preceding the speech by BoC’s L.Patterson.
USD/CAD levels to watch
At the moment the pair is losing 0.13% at 1.1941 and a breakdown of 1.1918 (low May 14) would open the door to 1.1900 (psychological level) and then 1.1836 (low Jan.12). On the other hand, the next resistance aligns at 1.2028 (high May 13) ahead of 1.2107 (high May 12) and then 1.2128 (21-d MA).