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21 Apr 2015
USD/CAD testing highs near 1.2300
FXStreet (Edinburgh) - The Canadian dollar is extending its depreciation vs. its American peer on Tuesday, now pushing USD/CAD to visit session highs in the upper-1.2200s.
USD/CAD in 3-day tops
The pair is advancing for the second consecutive session so far, looking to regain the 1.2300 handle following last week’s briefly test of sub-1.2100 levels. The better tone from the greenback and a knee-jerk in crude oil prices is helping with the upside, all amidst a renewed sentiment towards the risk-off trade.
Looking to Wednesday’s calendar, the only releases of note will be US Existing Home Sales and Housing Price Index, as well as the EIA weekly report on crude oil inventories.
USD/CAD significant levels
At the moment the pair is up 0.48% at 1.2283 with the next hurdle at 1.2300 (psychological level) and then 1.2328 (high Apr.16). On the flip side, a breakdown of 1.2180 (low Apr.20) would aim for 1.2100 (psychological level) and then 1.2087 (low Apr.17).
USD/CAD in 3-day tops
The pair is advancing for the second consecutive session so far, looking to regain the 1.2300 handle following last week’s briefly test of sub-1.2100 levels. The better tone from the greenback and a knee-jerk in crude oil prices is helping with the upside, all amidst a renewed sentiment towards the risk-off trade.
Looking to Wednesday’s calendar, the only releases of note will be US Existing Home Sales and Housing Price Index, as well as the EIA weekly report on crude oil inventories.
USD/CAD significant levels
At the moment the pair is up 0.48% at 1.2283 with the next hurdle at 1.2300 (psychological level) and then 1.2328 (high Apr.16). On the flip side, a breakdown of 1.2180 (low Apr.20) would aim for 1.2100 (psychological level) and then 1.2087 (low Apr.17).