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19 May 2015
USD/CAD through 1.2200 on data
FXStreet (Edinburgh) - The upside in the greenback pushed USD/CAD to test fresh highs just beyond the 1.2200 handle following today’s US releases.
USD/CAD stronger on US data, BoC eyed
The pair is posting in 4-week tops above the 1.2200 mark after US Housing Starts and Building Permits surprised markets to the upside, advancing to a seasonally adjusted annual rate of 1.135 million (+20.4%) and 1.143 million (+10.1%) during April, respectively. Next of relevance in the pair will be the speech by Governor S.Poloz on ‘The Way Home: Reading the Economic Signs’, with strategists at TD Securities adding “we think he could use the speech today as an opportunity to soften his nascent optimism”.
USD/CAD levels to watch
As of writing the pair is up 0.48% at 1.2218 and a breakout of 1.2269 (high Apr.23) would target 1.2287 (high Apr.22) en route to 1.2305 (high Apr.21). On the flip side, the immediate support aligns at 1.2130 (low May 19) followed by 1.2097 (21-d MA) and finally 1.1982 (low May 15).
USD/CAD stronger on US data, BoC eyed
The pair is posting in 4-week tops above the 1.2200 mark after US Housing Starts and Building Permits surprised markets to the upside, advancing to a seasonally adjusted annual rate of 1.135 million (+20.4%) and 1.143 million (+10.1%) during April, respectively. Next of relevance in the pair will be the speech by Governor S.Poloz on ‘The Way Home: Reading the Economic Signs’, with strategists at TD Securities adding “we think he could use the speech today as an opportunity to soften his nascent optimism”.
USD/CAD levels to watch
As of writing the pair is up 0.48% at 1.2218 and a breakout of 1.2269 (high Apr.23) would target 1.2287 (high Apr.22) en route to 1.2305 (high Apr.21). On the flip side, the immediate support aligns at 1.2130 (low May 19) followed by 1.2097 (21-d MA) and finally 1.1982 (low May 15).