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15 Apr 2015
USD/CAD collapses to 1-week low below 1.2450 after BoC
FXStreet (Tokyo) - The US dollar is trading under pressure and against the Canadian dollar it's posting fresh lows since April 8.
USD/CAD is trading down following the unchanged BoC rate decision and the not-that-dovish outlook for the months to come. The bank says that risks to inflation outlook 'are now roughly balanced'.
After falling 130 pips from 1.2570, the USD/CAD fell to break below 1.2450 and trade at lows of 1.2430. Currently, USD/CAD is trading at 1.2467, down 0.13% on the day, having posted a daily high at 1.2572 and low at 1.2441.
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is strongly bullish.
USD/CAD levels
Below 1.2450, the pair will find supports at 1.2440, 1.2400 and 1.2385. To the upside, resistances are at 1.2480, 1.2500 and 1.2570.
USD/CAD is trading down following the unchanged BoC rate decision and the not-that-dovish outlook for the months to come. The bank says that risks to inflation outlook 'are now roughly balanced'.
After falling 130 pips from 1.2570, the USD/CAD fell to break below 1.2450 and trade at lows of 1.2430. Currently, USD/CAD is trading at 1.2467, down 0.13% on the day, having posted a daily high at 1.2572 and low at 1.2441.
The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is strongly bullish.
USD/CAD levels
Below 1.2450, the pair will find supports at 1.2440, 1.2400 and 1.2385. To the upside, resistances are at 1.2480, 1.2500 and 1.2570.