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31 Mar 2015
USD/CAD pushes harder, 1.2780 on sight
FXStreet (Edinburgh) - The greenback is extending its upside vs. its neighbor on Tuesday, lifting USD/CAD to session highs near 1.2780.
USD/CAD focus on Canadian GDP
The pair is extending its bounce off recent lows near the critical support at 1.2400, advancing four sessions in a row so far. The Canadian dollar will remain in the limelight in light of the Canadian GDP due later. Prior surveys expect the economy to have contracted 0.2% on a monthly basis during January.
USD/CAD levels to consider
As of writing the pair is advancing 0.76% at 1.2772 with the next resistance at 1.2800 (high Jan.30) ahead of 1.2835 (2015 high Mar.18) and then 1.2845 (high Mar.13 2009). On the flip side, a breakdown of 1.2672 (low Mar.31) would open the door to 1.2612 (Kijun Sen) and finally 1.2600 (psychological level).
USD/CAD focus on Canadian GDP
The pair is extending its bounce off recent lows near the critical support at 1.2400, advancing four sessions in a row so far. The Canadian dollar will remain in the limelight in light of the Canadian GDP due later. Prior surveys expect the economy to have contracted 0.2% on a monthly basis during January.
USD/CAD levels to consider
As of writing the pair is advancing 0.76% at 1.2772 with the next resistance at 1.2800 (high Jan.30) ahead of 1.2835 (2015 high Mar.18) and then 1.2845 (high Mar.13 2009). On the flip side, a breakdown of 1.2672 (low Mar.31) would open the door to 1.2612 (Kijun Sen) and finally 1.2600 (psychological level).