17 Feb 2015
USD/CAD in 4-week lows
FXStreet (Edinburgh) - The selling pressure is intensifying around the US dollar on Tuesday, relegating USD/CAD to the 1.2360 area, or 4-week lows.
USD/CAD focus on FOMC minutes
The greenback is giving away yesterday’s gains following increasing hopes of a deal between Greece and the Eurogroup. In addition, the Canadian dollar remains on track to recover further ground backed by an extension of the recovery in the crude oil prices.
Ahead in the session, Canadian Portfolio Investment and US Empire State index and TIC Flows will be the main releases today.
USD/CAD key levels
The pair is now retreating 0.71% at 1.2375 and a dip beyond 1.2353 (low Feb.3) would open the door to 1.2302 (Kijun Sen) and then 1.2286 (23.6% of 1.0620-1.2800). On the flip side, the initial up barrier lines up at 1.2477 (21-d MA) ahead of 1.2536 (Tenkan Sen) and finally 1.2646 (high Feb.12).
USD/CAD focus on FOMC minutes
The greenback is giving away yesterday’s gains following increasing hopes of a deal between Greece and the Eurogroup. In addition, the Canadian dollar remains on track to recover further ground backed by an extension of the recovery in the crude oil prices.
Ahead in the session, Canadian Portfolio Investment and US Empire State index and TIC Flows will be the main releases today.
USD/CAD key levels
The pair is now retreating 0.71% at 1.2375 and a dip beyond 1.2353 (low Feb.3) would open the door to 1.2302 (Kijun Sen) and then 1.2286 (23.6% of 1.0620-1.2800). On the flip side, the initial up barrier lines up at 1.2477 (21-d MA) ahead of 1.2536 (Tenkan Sen) and finally 1.2646 (high Feb.12).