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20 Sep 2013
USD/CAD stalls ahead of 1.0300 before CPI data
FXstreet.com (Córdoba) - The USD/CAD has been gradually cutting losses over the last sessions, ever since bottoming out at 1.0180 in the wake of Fed decision.
USD/CAD erases Fed-induced losses
USD/CAD has recovered more than 100 pips from 3-month lows but stalled a few pips shy of the 1.0300 psychological level ahead of the release of August Canadian CPI during the American session. The USD/CAD could pierce the 1.0300 area if consumer prices come in softer than expected, signaling there is no rush for the BoC to hike rates.
USD/CAD technical levels
At time of writing, USD/CAD is trading at the 1.0285 zone, up 0.2% on the day. In terms of technical levels, next USD/CAD resistances line up at 1.0300 (psychological level), 1.0333 (Sep 17 high) and 1.0350 (Sep 13 high). On the flip side, supports are seen at 1.0260 (daily low), 1.0200 (psychological level/ Sep 18 low) and 1.0180 (Sep 19 low).
USD/CAD erases Fed-induced losses
USD/CAD has recovered more than 100 pips from 3-month lows but stalled a few pips shy of the 1.0300 psychological level ahead of the release of August Canadian CPI during the American session. The USD/CAD could pierce the 1.0300 area if consumer prices come in softer than expected, signaling there is no rush for the BoC to hike rates.
USD/CAD technical levels
At time of writing, USD/CAD is trading at the 1.0285 zone, up 0.2% on the day. In terms of technical levels, next USD/CAD resistances line up at 1.0300 (psychological level), 1.0333 (Sep 17 high) and 1.0350 (Sep 13 high). On the flip side, supports are seen at 1.0260 (daily low), 1.0200 (psychological level/ Sep 18 low) and 1.0180 (Sep 19 low).