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11 Mar 2015
USD/CAD retreats from 1.2700
FXStreet (Edinburgh) - The greenback is alternating gains and losses vs. its Canadian counterpart on Wednesday, with USD/CAD returning from levels above 1.2700 the figure.
USD/CAD backed by USD momentum
The pair is trading almost unchanged today amidst the ongoing USD rally backed by expectations that the Fed’s monetary tightening could begin as soon as June.
In addition, the barrel of West Texas Intermediate is attempting to recover some ground after yesterday’s pullback to the $48.20 area, now hovering over the mid-$48.00s and thus giving some support to the Canadian dollar.
USD/CAD key levels
At the moment the pair is down 0.05% at 1.2681 with the immediate support at 1.2598 (low Mar.10) ahead of 1.2574 (low Mar.9) and finally 1.2565 (high Mar.2). On the flip side, a break above 1.2705 (high Mar.11) would aim for 1.2772 (high Feb.2) and then 1.2800 (2015 high Jan.30).
USD/CAD backed by USD momentum
The pair is trading almost unchanged today amidst the ongoing USD rally backed by expectations that the Fed’s monetary tightening could begin as soon as June.
In addition, the barrel of West Texas Intermediate is attempting to recover some ground after yesterday’s pullback to the $48.20 area, now hovering over the mid-$48.00s and thus giving some support to the Canadian dollar.
USD/CAD key levels
At the moment the pair is down 0.05% at 1.2681 with the immediate support at 1.2598 (low Mar.10) ahead of 1.2574 (low Mar.9) and finally 1.2565 (high Mar.2). On the flip side, a break above 1.2705 (high Mar.11) would aim for 1.2772 (high Feb.2) and then 1.2800 (2015 high Jan.30).