15 Jun 2015
USD/CAD finds support at 1.2300
FXStreet (Edinburgh) - The Canadian dollar keeps gathering traction vs. its American counterpart on Monday, dragging USD/CAD towards the 1.2300 key support.
USD/CAD lower on USD-weakness
The renewed softer tone in the US dollar prompted sellers to return to the markets near 1.2360, after US Capacity Utilization, Industrial Production and the manufacturing gauge by the Empire State index all missed expectations during last month.
The pair continues to consolidate in the near term, although gains remain capped by the 1.2360/80 band, ahead of June tops beyond the mid-1.2500s.
USD/CAD key levels
At the moment the pair is down 0.04% at 1.2314 with the immediate support at 1.2296 (low Jun.15) followed by 1.2279 (low Jun.12) and finally 1.2253 (low Jun.11). On the other hand, a breakout of 1.2362 (high Jun.15) would aim for 1.2442 (high Jun.9) and then 1.2473 (high Jun.8).
USD/CAD lower on USD-weakness
The renewed softer tone in the US dollar prompted sellers to return to the markets near 1.2360, after US Capacity Utilization, Industrial Production and the manufacturing gauge by the Empire State index all missed expectations during last month.
The pair continues to consolidate in the near term, although gains remain capped by the 1.2360/80 band, ahead of June tops beyond the mid-1.2500s.
USD/CAD key levels
At the moment the pair is down 0.04% at 1.2314 with the immediate support at 1.2296 (low Jun.15) followed by 1.2279 (low Jun.12) and finally 1.2253 (low Jun.11). On the other hand, a breakout of 1.2362 (high Jun.15) would aim for 1.2442 (high Jun.9) and then 1.2473 (high Jun.8).