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17 Mar 2015
The Canadian dollar has trimmed the initial pullback vs. its neighbour on Tuesday, now sending USD/CAD to the area of 1.2770.
FXStreet (Edinburgh) - The Canadian dollar has trimmed the initial pullback vs. its neighbour on Tuesday, now sending USD/CAD to the area of 1.2770.
USD/CAD limited by 1.2800
The pair keeps meandering within a 50-pip range with the upside limited in recent multi-year tops in the low-1.2800s, ahead of the critical FOMC meeting due tomorrow.
In the data space, US Housing Starts came in below estimates while Building Permits surpassed the median during the last month. In Canada, Manufacturing Shipments contracted 1.7% from December to January, disappointing market expectations.
USD/CAD key levels
At the moment the pair is gaining 0.06% at 1.2773 and a break above 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 initial support aligns at 1.2735 (low Mar.16) ahead of 1.2681 (low Mar.13) and then 1.2613 (low Mar.12).
USD/CAD limited by 1.2800
The pair keeps meandering within a 50-pip range with the upside limited in recent multi-year tops in the low-1.2800s, ahead of the critical FOMC meeting due tomorrow.
In the data space, US Housing Starts came in below estimates while Building Permits surpassed the median during the last month. In Canada, Manufacturing Shipments contracted 1.7% from December to January, disappointing market expectations.
USD/CAD key levels
At the moment the pair is gaining 0.06% at 1.2773 and a break above 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 initial support aligns at 1.2735 (low Mar.16) ahead of 1.2681 (low Mar.13) and then 1.2613 (low Mar.12).