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3 Mar 2015
USD/CAD trimming losses, near 1.2530
FXStreet (Edinburgh) - After bottoming in sub-1.2500 levels in early trade, USD/CAD is now recovering ground and is pointing to regain the mid-1.2500s.
USD/CAD focus on data
The pair is looking to extend the bounce off last week’s troughs in the 1.2400 neighbourhood backed on a better sentiment around the US dollar, although the recovery in crude oil prices continues to give oxygen to the CAD.
Ahead in the day, Canadian GDP figures will be the main highlight today, with prior surveys expecting the economy to have expanded 0.2% on a monthly basis and 2.0% over the last twelve months in Q4.
USD/CAD significant levels
The pair is now down 0.11% at 1.2521 with the next support at 1.2491 (low Mar.3) followed by 1.2478 (low Mar.2) and then 1.2449 (low Feb.27). On the other hand, a break above 1.2543 (high Mar.3) would open the door to 1.2565 (high Mar.2) and finally 1.2577 (Kijun Sen).
USD/CAD focus on data
The pair is looking to extend the bounce off last week’s troughs in the 1.2400 neighbourhood backed on a better sentiment around the US dollar, although the recovery in crude oil prices continues to give oxygen to the CAD.
Ahead in the day, Canadian GDP figures will be the main highlight today, with prior surveys expecting the economy to have expanded 0.2% on a monthly basis and 2.0% over the last twelve months in Q4.
USD/CAD significant levels
The pair is now down 0.11% at 1.2521 with the next support at 1.2491 (low Mar.3) followed by 1.2478 (low Mar.2) and then 1.2449 (low Feb.27). On the other hand, a break above 1.2543 (high Mar.3) would open the door to 1.2565 (high Mar.2) and finally 1.2577 (Kijun Sen).