6 Apr 2015
USD/CAD in red around 1.2470
FXStreet (Edinburgh) - The greenback is trading on the back footing vs. its Canadian neighbour on Monday, with USD/CAD currently hovering over 1.2470/80.
USD/CAD consolidates the drop post-FOMC
The pair is following the major trend in the global markets today, with the inactivity in most of the markets weighing on volatility and volume. The recovery of the crude oil prices is giving some extra legs to the CAD, collaborating with the downside as well.
Ahead in the session, US Labor Market Conditions Index and the ISM Non-manufacturing will be the main highlights in the US calendar, while the PMI tracked by Ivey and the BoC’s Business Outlook Survey will take centre stage in Canada.
USD/CAD key levels
As of writing the pair is losing 0.16% at 1.2469 with the next support at 1.2429 (low Apr.3) followed by 1.2410 (low Mar.26) and finally 1.2406 (low Mar.6). On the upside, a breakout of 1.2574 (high Apr.3) would target 1.2656 (high Apr.2) and then 1.2710 (high Apr.1).
USD/CAD consolidates the drop post-FOMC
The pair is following the major trend in the global markets today, with the inactivity in most of the markets weighing on volatility and volume. The recovery of the crude oil prices is giving some extra legs to the CAD, collaborating with the downside as well.
Ahead in the session, US Labor Market Conditions Index and the ISM Non-manufacturing will be the main highlights in the US calendar, while the PMI tracked by Ivey and the BoC’s Business Outlook Survey will take centre stage in Canada.
USD/CAD key levels
As of writing the pair is losing 0.16% at 1.2469 with the next support at 1.2429 (low Apr.3) followed by 1.2410 (low Mar.26) and finally 1.2406 (low Mar.6). On the upside, a breakout of 1.2574 (high Apr.3) would target 1.2656 (high Apr.2) and then 1.2710 (high Apr.1).