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20 Sep 2013
USD/CAD unable to break above 1.0300
FXstreet.com (Córdoba) - The USD/CAD popped to 1.0300 after the August Canadian CPI came in line with expectations, adding no pressure to the BoC to hike rates.
USD/CAD peaks at 1.0300 after CPI data
Canadian CPI grew 1.1% YoY, while core prices rose 1.3%, as expected. In month-over-month terms, CPI rose 0.1% as expected. USD/CAD jumped to a high of 1.0300 on the data, but quickly pulled back below the psychological level. At time of writing, USD/CAD is trading at the 1.0280 area, still up 0.2% on the day.
USD/CAD technical levels
In terms of technical levels, USD/CAD could face immediate resistances at 1.0300 (psychological level), 1.0333 (Sep 17 high) and 1.0350 (Sep 13 high). On the flip side, supports are seen at 1.0260 (daily low), 1.0200 (psychological level/Sep 18 low) and 1.0180 (Sep 19 low).
USD/CAD peaks at 1.0300 after CPI data
Canadian CPI grew 1.1% YoY, while core prices rose 1.3%, as expected. In month-over-month terms, CPI rose 0.1% as expected. USD/CAD jumped to a high of 1.0300 on the data, but quickly pulled back below the psychological level. At time of writing, USD/CAD is trading at the 1.0280 area, still up 0.2% on the day.
USD/CAD technical levels
In terms of technical levels, USD/CAD could face immediate resistances at 1.0300 (psychological level), 1.0333 (Sep 17 high) and 1.0350 (Sep 13 high). On the flip side, supports are seen at 1.0260 (daily low), 1.0200 (psychological level/Sep 18 low) and 1.0180 (Sep 19 low).