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14 Apr 2015
USD/CAD flirting with 1.2500
FXStreet (Edinburgh) - The greenback has rebounded from daily lows in the 1.2440 area vs. the Canadian dollar, now pushing USD/CAD to the vicinity of 1.2500 the figure.
USD/CAD focus on BoC
Better tone from crude oil prices today plus less auspicious releases in the US calendar played against further upside in the pair, while market participants started to turn their focus on tomorrow’s BoC monetary policy meeting.
Prior surveys expect the central bank to leave its monetary stance on hold, although the subsequent press conference by Governor S.Poloz will surely act as the main driver for the pair’s price action.
USD/CAD levels to watch
At the moment the pair is retreating 0.82% at 1.2495 with the next support at 1.2444 (low Apr.14) followed by 1.2430 (low Apr.13) and finally 1.2410 (low Mar.26). On the other hand, a breakout of 1.2522 (high Apr.7) would aim for 1.2527 (Tenkan Sen) and then 1.2555 (low Apr.13).
USD/CAD focus on BoC
Better tone from crude oil prices today plus less auspicious releases in the US calendar played against further upside in the pair, while market participants started to turn their focus on tomorrow’s BoC monetary policy meeting.
Prior surveys expect the central bank to leave its monetary stance on hold, although the subsequent press conference by Governor S.Poloz will surely act as the main driver for the pair’s price action.
USD/CAD levels to watch
At the moment the pair is retreating 0.82% at 1.2495 with the next support at 1.2444 (low Apr.14) followed by 1.2430 (low Apr.13) and finally 1.2410 (low Mar.26). On the other hand, a breakout of 1.2522 (high Apr.7) would aim for 1.2527 (Tenkan Sen) and then 1.2555 (low Apr.13).