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Trading news
23 Apr 2015
USD/CAD drops to lows near 1.2220
FXStreet (Edinburgh) - The greenback is now losing the grip vs. its Canadian peer, dragging USD/CAD to visit intraday lows in the 1.2220 area.
USD/CAD attention to US releases
The pair remains within the weekly range so far, navigating between 1.2170 and the 1.2300 handle ahead of the US docket due later. The demand for the US dollar continues to struggle to gain traction, leaving spot meandering in a sort of consolidative pattern above 1.2200.
Next of relevance will be US Initial Claims, New Home Sales and the manufacturing PMI measured by Markit.
USD/CAD significant levels
At the moment the pair is losing 0.11% at 1.2223 and a breach of 1.2213 (low Apr.23) would expose 1.2180 (low Apr.20) and finally 1.2100 (psychological level). On the other hand, the immediate resistance aligns at 1.2296 (high Apr.21) followed by 1.2300 (psychological level) and then 1.2328 (high Apr.16).
USD/CAD attention to US releases
The pair remains within the weekly range so far, navigating between 1.2170 and the 1.2300 handle ahead of the US docket due later. The demand for the US dollar continues to struggle to gain traction, leaving spot meandering in a sort of consolidative pattern above 1.2200.
Next of relevance will be US Initial Claims, New Home Sales and the manufacturing PMI measured by Markit.
USD/CAD significant levels
At the moment the pair is losing 0.11% at 1.2223 and a breach of 1.2213 (low Apr.23) would expose 1.2180 (low Apr.20) and finally 1.2100 (psychological level). On the other hand, the immediate resistance aligns at 1.2296 (high Apr.21) followed by 1.2300 (psychological level) and then 1.2328 (high Apr.16).