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13 Mar 2015
USD/CAD back around 1.2800
FXStreet (Edinburgh) - After hitting fresh 6-year highs at 1.2828, USD/CAD is now easing some ground and returning to the 1.2800 neighbourhood.
USD/CAD boosted by dollar, oil
The strong USD rally keeps pushing the cross to fresh highs, this time reaching levels last traded in March 2009 in the 1.2830 region. Collaborating with the upside, crude oil prices continue to fall – WTI below $45.00/bbl - weighing on the Canadian dollar.
Data wise, the Reuters/Michigan index missed expectation for the current month dropping to 91.2 while the Canadian jobless rate ticked higher to 6.8% during February.
USD/CAD key levels
At the moment the pair is advancing 0.80% at 1.2788 and a breakout of 1.2825 (2015 high Mar.13) would open the door to 1.2845 (high Mar.13 2009) and then 1.2900 (psychological level). On the other hand, the immediate support lies at 1.2617 (low Mar.12) ahead of 1.2598 (low Mar.10) and finally 1.2574 (low Mar.9).
USD/CAD boosted by dollar, oil
The strong USD rally keeps pushing the cross to fresh highs, this time reaching levels last traded in March 2009 in the 1.2830 region. Collaborating with the upside, crude oil prices continue to fall – WTI below $45.00/bbl - weighing on the Canadian dollar.
Data wise, the Reuters/Michigan index missed expectation for the current month dropping to 91.2 while the Canadian jobless rate ticked higher to 6.8% during February.
USD/CAD key levels
At the moment the pair is advancing 0.80% at 1.2788 and a breakout of 1.2825 (2015 high Mar.13) would open the door to 1.2845 (high Mar.13 2009) and then 1.2900 (psychological level). On the other hand, the immediate support lies at 1.2617 (low Mar.12) ahead of 1.2598 (low Mar.10) and finally 1.2574 (low Mar.9).