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15 Apr 2015
USD/CAD consolidates above 1.2500
FXStreet (Edinburgh) - The greenback is now pushing higher vs. its Canadian counterpart on Wednesday, with USD/CAD testing session peaks near 1.2530.
USD/CAD focus on BoC
The pair is coming up from Tuesday’s troughs in the area of 1.2450, propped up by a recovery in the US dollar following the sharp pullback post-US retail sales during March.
Next of relevance for the pair will be the critical BoC monetary policy meeting, with consensus expects the central bank to stay on hold. However, market participants remain vigilant on the subsequent press conference by Governor S.Poloz, which could surely bring bouts of volatility.
USD/CAD levels to watch
At the moment the pair is advancing 0.37% at 1.2531 and a breakout of 1.2555 (low Apr.13) would open the door to 1.2600 (psychological level) and then 1.2613 (high Apr.9). On the other hand, the immediate support lines up at 1.2468 (low Apr.14) followed by 1.2455 (low Apr.7) and finally 1.2430 (low Apr.3).
USD/CAD focus on BoC
The pair is coming up from Tuesday’s troughs in the area of 1.2450, propped up by a recovery in the US dollar following the sharp pullback post-US retail sales during March.
Next of relevance for the pair will be the critical BoC monetary policy meeting, with consensus expects the central bank to stay on hold. However, market participants remain vigilant on the subsequent press conference by Governor S.Poloz, which could surely bring bouts of volatility.
USD/CAD levels to watch
At the moment the pair is advancing 0.37% at 1.2531 and a breakout of 1.2555 (low Apr.13) would open the door to 1.2600 (psychological level) and then 1.2613 (high Apr.9). On the other hand, the immediate support lines up at 1.2468 (low Apr.14) followed by 1.2455 (low Apr.7) and finally 1.2430 (low Apr.3).