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22 May 2015
USD/CAD assaulting 1.2300
FXStreet (Edinburgh) - The greenback keeps pushing higher on Friday, now lifting USD/CAD to the vicinity of 1.2300 the figure.
USD/CAD in 5-week tops
The pair is back to trade in levels last seen in mid-April near the 1.2300 handle after very auspicious inflation figures in the US economy surprised markets to the upside during April. On the Canadian side, Retail Sales grew 0.7% from February to March, decelerating from the previous 1.8% gain, while consumer prices rose less than forecasted, adding downside pressure to the CAD.
The greenback will remain under a close watch however, as the next event risk for the pair will be the speech by Chairwoman J.Yellen on ‘US Economic Outlook’.
USD/CAD key levels
The pair is now gaining 0.80% at 1.2297 with the next hurdle at 1.2327 (high Apr.16) followed by 1.2570 (high Apr.15) and finally1.2602 (high Apr.14). On the flip side, a breach of 1.2173 (low May 22) would open the door to 1.2170 (low May 20) and then 1.2130 (low May 19).
USD/CAD in 5-week tops
The pair is back to trade in levels last seen in mid-April near the 1.2300 handle after very auspicious inflation figures in the US economy surprised markets to the upside during April. On the Canadian side, Retail Sales grew 0.7% from February to March, decelerating from the previous 1.8% gain, while consumer prices rose less than forecasted, adding downside pressure to the CAD.
The greenback will remain under a close watch however, as the next event risk for the pair will be the speech by Chairwoman J.Yellen on ‘US Economic Outlook’.
USD/CAD key levels
The pair is now gaining 0.80% at 1.2297 with the next hurdle at 1.2327 (high Apr.16) followed by 1.2570 (high Apr.15) and finally1.2602 (high Apr.14). On the flip side, a breach of 1.2173 (low May 22) would open the door to 1.2170 (low May 20) and then 1.2130 (low May 19).