16 Feb 2015
USD/CAD turns positive after rising to MA 50-hour at 1.2475
FXStreet (San Francisco) - After recovering from 1.2420 to find resistance at 1.2460, USD/CAD traded in consolidation mode to find buyers at 1.2440 that sent the pair to test daily highs around the 50-hour level of 1.2475.
Currently, USD/CAD is trading at 1.2473, up 0.11% on the day, having posted a daily high at 1.2480 and low at 1.2420. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.
USD/CAD sentiment
The USD/CAD is recovering earlier losses as the oil is giving up its previous gains. Oil is trading higher, mostly on consolidation mode above daily PP of $53.37. After testing R1 at $53.60, it traded back to current $53.00.
If the pair manages to break above the 1.2475, it will find next resistances at 1.2490 and 1.2500 and 1.2510. To the downside, supports are at 1.2460, 1.2440 and 1.2420.
Currently, USD/CAD is trading at 1.2473, up 0.11% on the day, having posted a daily high at 1.2480 and low at 1.2420. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bullish.
USD/CAD sentiment
The USD/CAD is recovering earlier losses as the oil is giving up its previous gains. Oil is trading higher, mostly on consolidation mode above daily PP of $53.37. After testing R1 at $53.60, it traded back to current $53.00.
If the pair manages to break above the 1.2475, it will find next resistances at 1.2490 and 1.2500 and 1.2510. To the downside, supports are at 1.2460, 1.2440 and 1.2420.