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11 Dec 2014
USD/CAD remains near 1.1500
FXStreet (Córdoba) - USD/CAD tested once again today the 1.1500 area but failed to break higher. The pair peaked at 1.1496 and then pulled back.
The decline from the highs found support at 1.1465 and currently trades at 1.1470 around the same level it closed yesterday.
USD/CAD technical levels
The immediate support lies at 1.1465 (intraday level) and below here at 1.1445, where Asian session lows lie. To the upside, the key level is 1.1500, a break higher could trigger a bullish rally and the price would be at levels last seen in July 2009.
Data ahead
Volatility in the pair could increase in the coming hours with data from North America. In the US, the jobless claims and the retail sales report are due at 13:30 GMT, while in Canada, at 13:00 GMT, the Bank of Canada governor will speak and 30 minutes after, capacity utilization and new home prices data will be published.
According to the Rates, FX and Commodities Research Team, from TD Securities the capacity utilization should show an increase to 83.0% from 82.7% in the third quarter. “Governor Poloz delivers a speech but judging by the topic “Future of Finance” we do not expect a material discussion on monetary policy, although there is a press conference after the speech.”
The decline from the highs found support at 1.1465 and currently trades at 1.1470 around the same level it closed yesterday.
USD/CAD technical levels
The immediate support lies at 1.1465 (intraday level) and below here at 1.1445, where Asian session lows lie. To the upside, the key level is 1.1500, a break higher could trigger a bullish rally and the price would be at levels last seen in July 2009.
Data ahead
Volatility in the pair could increase in the coming hours with data from North America. In the US, the jobless claims and the retail sales report are due at 13:30 GMT, while in Canada, at 13:00 GMT, the Bank of Canada governor will speak and 30 minutes after, capacity utilization and new home prices data will be published.
According to the Rates, FX and Commodities Research Team, from TD Securities the capacity utilization should show an increase to 83.0% from 82.7% in the third quarter. “Governor Poloz delivers a speech but judging by the topic “Future of Finance” we do not expect a material discussion on monetary policy, although there is a press conference after the speech.”