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30 Mar 2015
USD/CAD stronger, flirting with 1.2700
FXStreet (Edinburgh) - The bid tone around the US dollar remains intact on Monday, now pushing USD/CAD to session highs in the 1.2700 neighbourhood.
USD/CAD in 2-week highs
The pair is posting multi-day tops around 1.2700 the figure, as the greenback continues to pick up pace and extending the upbeat sentiment from last week. Positive readings in the US docket today gave extra legs to the USD rally, which will be put to the test throughout this week following a slew of significant data releases.
On the Canadian side, the GDP results for the month of January will be the main highlight. Prior surveys expect the economy to have expanded at a monthly pace of 0.2%, a tad below December’s 0.3% advance.
USD/CAD levels to consider
As of writing the pair is advancing 0.66% at 1.2693 with the next resistance at 1.2708 (high Mar.30) ahead of 1.2724 (high Mar.20) and then 1.2757 (high Mar.19). On the flip side, a breakdown of 1.2597 (low Mar.30) would open the door to 1.2500 (psychological level) and finally 1.2468 (low Mar.27).
USD/CAD in 2-week highs
The pair is posting multi-day tops around 1.2700 the figure, as the greenback continues to pick up pace and extending the upbeat sentiment from last week. Positive readings in the US docket today gave extra legs to the USD rally, which will be put to the test throughout this week following a slew of significant data releases.
On the Canadian side, the GDP results for the month of January will be the main highlight. Prior surveys expect the economy to have expanded at a monthly pace of 0.2%, a tad below December’s 0.3% advance.
USD/CAD levels to consider
As of writing the pair is advancing 0.66% at 1.2693 with the next resistance at 1.2708 (high Mar.30) ahead of 1.2724 (high Mar.20) and then 1.2757 (high Mar.19). On the flip side, a breakdown of 1.2597 (low Mar.30) would open the door to 1.2500 (psychological level) and finally 1.2468 (low Mar.27).