28 Apr 2015
USD/CAD keeps falling, 1.2050 on sight
FXStreet (Edinburgh) -The offered tone keeps hurting the US dollar on Tuesday, now sending USD/CAD to multi-week lows in the 1.2060 area.
USD/CAD focus on Poloz, US data
The pair is retreating for the third consecutive week so far, amidst a continuation of the selling interest around the dollar ahead of the FOMC meeting tomorrow, and the recent recovery in crude oil prices, which is giving extra legs to the CAD.
In the data/events space, Governor S.Poloz’s testimony before Parliament will keep traders entertained ahead of the US Consumer Confidence and the S&P/Case-Shiller index.
USD/CAD significant levels
At the moment the pair is down 0.19% at 1.2062 with the immediate support at 1.2000 (psychological handle) ahead of 1.19845 (high Jan.19) and then 1.1940 (low Jan.20). On the upside, a break above 1.2116 (high Apr.28) would open the door to 1.2205 (high Apr.27) and finally 1.2269 (high Apr.23).
USD/CAD focus on Poloz, US data
The pair is retreating for the third consecutive week so far, amidst a continuation of the selling interest around the dollar ahead of the FOMC meeting tomorrow, and the recent recovery in crude oil prices, which is giving extra legs to the CAD.
In the data/events space, Governor S.Poloz’s testimony before Parliament will keep traders entertained ahead of the US Consumer Confidence and the S&P/Case-Shiller index.
USD/CAD significant levels
At the moment the pair is down 0.19% at 1.2062 with the immediate support at 1.2000 (psychological handle) ahead of 1.19845 (high Jan.19) and then 1.1940 (low Jan.20). On the upside, a break above 1.2116 (high Apr.28) would open the door to 1.2205 (high Apr.27) and finally 1.2269 (high Apr.23).