5 Aug 2015
USD/CAD stays close to 1.3200
FXStreet (Edinburgh) - The greenback remains on the rise vs. its Canadian counterpart on Wednesday, taking USD/CAD to a consolidation scheme just below 1.3200 the figure.
USD/CAD off highs, US data eyed
After posting recent fresh cycle tops around 1.3215, the pair kept navigating in the upper end of the recent range around the 1.3200 neighbourhood. Hawkish comments by Fed’s D.Lockhart boosted the greenback on Tuesday, while a persistent weaker tone from crude oil prices continues to weigh on CAD.
Next of relevance in the pair, ADP report (215K exp.), ISM Non-manufacturing and Trade Balance are all due in the US economy, whereas Trade Balance results are only due in Canada.
USD/CAD relevant levels
At the moment the pair is advancing 0.04% at 1.3198 with the next hurdle at 1.3215 (2015 high Aug.5) ahead of 1.3344 (monthly high July 2004) and then 1.3515 (monthly high January 2004). On the other hand, a breach of 1.3176 (low Aug.5) would aim for 1.3103 (low Aug.4) and finally 1.2940 (low Jul.31).
USD/CAD off highs, US data eyed
After posting recent fresh cycle tops around 1.3215, the pair kept navigating in the upper end of the recent range around the 1.3200 neighbourhood. Hawkish comments by Fed’s D.Lockhart boosted the greenback on Tuesday, while a persistent weaker tone from crude oil prices continues to weigh on CAD.
Next of relevance in the pair, ADP report (215K exp.), ISM Non-manufacturing and Trade Balance are all due in the US economy, whereas Trade Balance results are only due in Canada.
USD/CAD relevant levels
At the moment the pair is advancing 0.04% at 1.3198 with the next hurdle at 1.3215 (2015 high Aug.5) ahead of 1.3344 (monthly high July 2004) and then 1.3515 (monthly high January 2004). On the other hand, a breach of 1.3176 (low Aug.5) would aim for 1.3103 (low Aug.4) and finally 1.2940 (low Jul.31).