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23 Feb 2015
USD/CAD eases from highs
FXStreet (Edinburgh) - After surpassing the 1.2600 key barrier, USD/CAD is now giving away some gains towards the 1.2590/80 band.
USD/CAD focus on data, BoC
The good momentum in the US dollar is bolstering the current upside in the pair, supported at the same time by the decline in crude oil prices, with the barrel of WTI trading back below the key $50.00 mark.
Ahead in the day, US Existing Home Sales are due ahead of tomorrow’s testimony by Chairwoman J.Yellen and the speech by Governor S.Poloz.
USD/CAD levels to consider
The pair is now advancing 0.35% at 1.2588 with the next hurdle at 1.2646 (high Feb.12) ahead of 1.2697 (high Feb.11) and finally 1.2772 (high Feb.2). On the other hand, a breakdown of 1.2523 (low Feb.23) would target 1.2516 (21-d MA) en route to 1.2500 (psychological level).
USD/CAD focus on data, BoC
The good momentum in the US dollar is bolstering the current upside in the pair, supported at the same time by the decline in crude oil prices, with the barrel of WTI trading back below the key $50.00 mark.
Ahead in the day, US Existing Home Sales are due ahead of tomorrow’s testimony by Chairwoman J.Yellen and the speech by Governor S.Poloz.
USD/CAD levels to consider
The pair is now advancing 0.35% at 1.2588 with the next hurdle at 1.2646 (high Feb.12) ahead of 1.2697 (high Feb.11) and finally 1.2772 (high Feb.2). On the other hand, a breakdown of 1.2523 (low Feb.23) would target 1.2516 (21-d MA) en route to 1.2500 (psychological level).