13 Feb 2015
USD/CAD steadies below 1.2500
FXStreet (Mumbai) - USD/CAD remained resilient in the European morning and traded modestly flat, despite sharply higher commodity prices and a weaker US dollar.
USD/CAD pressured amid USD weakness
Currently, the USD/CAD slightly lower by 0.11% at 1.2494 levels, having posted fresh session highs at 1.2521 and lows at 1.2487 levels. The pair traded steady as traders refrained to create fresh positions amid generalized weakness in the US dollar back by bearish US data and rising oil prices.
Moreover, traders remained cautious ahead of crucial US consumer confidence data manufacturing sales data from Canada due later in the day for fresh incentives on USD/CAD.
USD/CAD Technical Levels
To the upside, the next resistance is located at 1.2549 levels and above which it could extend gains 1.2587 levels. To the downside immediate support might be located at 1.2436 levels, below that at 1.2390 levels.
USD/CAD pressured amid USD weakness
Currently, the USD/CAD slightly lower by 0.11% at 1.2494 levels, having posted fresh session highs at 1.2521 and lows at 1.2487 levels. The pair traded steady as traders refrained to create fresh positions amid generalized weakness in the US dollar back by bearish US data and rising oil prices.
Moreover, traders remained cautious ahead of crucial US consumer confidence data manufacturing sales data from Canada due later in the day for fresh incentives on USD/CAD.
USD/CAD Technical Levels
To the upside, the next resistance is located at 1.2549 levels and above which it could extend gains 1.2587 levels. To the downside immediate support might be located at 1.2436 levels, below that at 1.2390 levels.