Back
1 Apr 2015
USD/CAD deflates to 1.2670
FXStreet (Edinburgh) - The US dollar is losing its shine on Wednesday, now sending USD/CAD back to the area of 1.2670.
USD/CAD retreats from 1.2710
The pair is fading the previous spike to the 1.2710 area, boosted by the initial strong buying interest surrounding the greenback. The softness around crude oil prices continue to weigh on the Canadian dollar in the meantime, adding to the offered tone in CAD.
Ahead in the session, ISM Manufacturing, Markit’s manufacturing PMI and the ADP employment report are all due in the US economy later.
USD/CAD levels to consider
As of writing the pair is retreating 0.06% at 1.2675 and a breakdown of 1 1.2612 (Kijun Sen) would target 1.2600 (psychological level). On the other hand, the initial hurdle aligns at 1.2800 (high Jan.30) ahead of 1.2835 (2015 high Mar.18) and then 1.2845 (high Mar.13 2009).
USD/CAD retreats from 1.2710
The pair is fading the previous spike to the 1.2710 area, boosted by the initial strong buying interest surrounding the greenback. The softness around crude oil prices continue to weigh on the Canadian dollar in the meantime, adding to the offered tone in CAD.
Ahead in the session, ISM Manufacturing, Markit’s manufacturing PMI and the ADP employment report are all due in the US economy later.
USD/CAD levels to consider
As of writing the pair is retreating 0.06% at 1.2675 and a breakdown of 1 1.2612 (Kijun Sen) would target 1.2600 (psychological level). On the other hand, the initial hurdle aligns at 1.2800 (high Jan.30) ahead of 1.2835 (2015 high Mar.18) and then 1.2845 (high Mar.13 2009).