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27 Mar 2015
USD/CAD into US Q4 GDP revision – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Dhwani Mehta, gives the outlook for USD/CAD taking into consideration the possible outcomes for US Q4 GDP revision data.
Key Quotes
“USD/CAD is seen extending losses below 1.25 barrier and is likely to continue its bearish momentum as the US GDP data may miss market expectations as anticipated.”
“The pair may fall to the immediate support at 1.2460 levels, below which doors will open for a retest of 1.24 handle.”
“However, if the US GDP figures come out in line with expectations or beat expectations, USD bulls may take charge and the pair is likely to pierce through 1.2500 levels and retest daily highs at 1.2530, beyond which the pair may shoot to 1.2600 levels.”
Key Quotes
“USD/CAD is seen extending losses below 1.25 barrier and is likely to continue its bearish momentum as the US GDP data may miss market expectations as anticipated.”
“The pair may fall to the immediate support at 1.2460 levels, below which doors will open for a retest of 1.24 handle.”
“However, if the US GDP figures come out in line with expectations or beat expectations, USD bulls may take charge and the pair is likely to pierce through 1.2500 levels and retest daily highs at 1.2530, beyond which the pair may shoot to 1.2600 levels.”