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5 May 2015
USD/CAD drops to sub-1.2100 levels
FXStreet (Edinburgh) - The greenback is now running out of steam on Tuesday, pushing USD/CAD to fresh lows near 1.2090.
USD/CAD down from 1.2030
The pair keeps correcting lower following last week’s tops in the 1.2200 neighbourhood, now retreating for the second consecutive session ahead of US data.
Quite interesting day ahead for the pair, as US trade balance figures, ISM Non-manufacturing and Markit’s Manufacturing PMI are due. On the Canadian side, the trade balance figures during March will precede the speech by BoC Senior Deputy Governor C.Wilkins.
USD/CAD relevant levels
As of writing the pair is down 0.01% at 1.2092 with the next support at 1.2064 (low May 1) followed by 1.2000 (psychological level) and then 1.1998 (low Apr.20). On the other hand, a surpass of 1.2131 (high May 5) would aim for 1.2180 (high May 4) and finally 1.2205 (high May 1).
USD/CAD down from 1.2030
The pair keeps correcting lower following last week’s tops in the 1.2200 neighbourhood, now retreating for the second consecutive session ahead of US data.
Quite interesting day ahead for the pair, as US trade balance figures, ISM Non-manufacturing and Markit’s Manufacturing PMI are due. On the Canadian side, the trade balance figures during March will precede the speech by BoC Senior Deputy Governor C.Wilkins.
USD/CAD relevant levels
As of writing the pair is down 0.01% at 1.2092 with the next support at 1.2064 (low May 1) followed by 1.2000 (psychological level) and then 1.1998 (low Apr.20). On the other hand, a surpass of 1.2131 (high May 5) would aim for 1.2180 (high May 4) and finally 1.2205 (high May 1).