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17 Sep 2013
USD/CAD hits daily lows after data
FXstreet.com (Córdoba) - The USD/CAD fell to fresh daily lows at the beginning of the American session after data showed US CPI grew less than expected in August and Canadian manufacturing shipments rose above forecast in July.
USD/CAD dropped to a daily low of 1.0303 but quickly bounce to pre data levels and it is currently trading around 1.0310, where it records a 0.1% loss on the day. The pair has entered in a consolidation phase this week as investors remain sidelined ahead of the FOMC meeting.
USD/CAD levels to watch
As for technical levels, USD/CAD could find immediate resistances at 1.0333 (daily high) and 1.0350 (Sep 13 high), while supports are seen at 1.0303 (daily low) and 1.0280 (Sep 16 low).
USD/CAD dropped to a daily low of 1.0303 but quickly bounce to pre data levels and it is currently trading around 1.0310, where it records a 0.1% loss on the day. The pair has entered in a consolidation phase this week as investors remain sidelined ahead of the FOMC meeting.
USD/CAD levels to watch
As for technical levels, USD/CAD could find immediate resistances at 1.0333 (daily high) and 1.0350 (Sep 13 high), while supports are seen at 1.0303 (daily low) and 1.0280 (Sep 16 low).