22 Jul 2015
USD/CAD extends the recovery to 1.2980
FXStreet (Edinburgh) - The greenback is markedly higher vs. its Canadian counterpart on Wednesday, sending USD/CAD to the vicinity of 1.2980.
USD/CAD bounces off 1.2930
After bottoming out in the 1.2930 area overnight, the pair triggered a correction higher to the 1.2990/95 area, although shedding some gains afterwards to the current 1.2980 level.
It seems the US dollar has recovered some of the shine lost on Tuesday following a profit-taking sentiment amongst investors, taking spot to the upper bound of the range and closer to the 1.3000 barrier.
Ahead in the session US Existing Home Sales will be the only release, with consensus expecting sales to have increased 1.2% on a monthly basis during June, or 5.40 M.
USD/CAD key levels
As of writing the pair is advancing 0.18% at 1.2972 with the next hurdle at 1.12994 (high Jul.22) followed by 1.3012 (high Jul.21) and then 1.3025 (high Jul.20). On the other hand, a breakdown of 1.2934 (low Jul.22) would open the door to 1.2905 (low Jul.16) and finally 1.2728 (low Jul.15).
USD/CAD bounces off 1.2930
After bottoming out in the 1.2930 area overnight, the pair triggered a correction higher to the 1.2990/95 area, although shedding some gains afterwards to the current 1.2980 level.
It seems the US dollar has recovered some of the shine lost on Tuesday following a profit-taking sentiment amongst investors, taking spot to the upper bound of the range and closer to the 1.3000 barrier.
Ahead in the session US Existing Home Sales will be the only release, with consensus expecting sales to have increased 1.2% on a monthly basis during June, or 5.40 M.
USD/CAD key levels
As of writing the pair is advancing 0.18% at 1.2972 with the next hurdle at 1.12994 (high Jul.22) followed by 1.3012 (high Jul.21) and then 1.3025 (high Jul.20). On the other hand, a breakdown of 1.2934 (low Jul.22) would open the door to 1.2905 (low Jul.16) and finally 1.2728 (low Jul.15).