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15 Jan 2016
USD/CAD firmer, 1.4600 on sight
FXStreet (Edinburgh) - The Canadian dollar is getting hammered today, now pushing USD/CAD to fresh cycle highs in the mid-1.4500s.
USD/CAD lower on oil slump
The selling mood around CAD has picked up further speed after the barrel of West Texas Intermediate has broken below the psychological $30.00 mark during the European morning, all following Chinese woes and a generalized risk aversion.
On the data front, the US docket will take centre stage later, with December’s Retail Sales grabbing all the attention and seconded by Producer Prices, Capacity Utilization, Industrial Production and the Reuters/Michigan index.
USD/CAD significant levels
At the moment the pair is advancing 1.06% at 1.4516 with the next hurdle at 1.4600 (psychological level) followed by 1.4672 (high Apr.24 2003) and then 1.4946 (high Apr.7 2003). On the other hand, a breakdown of 1.4034 (20-day sma) would aim for 1.3793 (low Dec.24) and finally 1.3698 (3-month uptrend).
USD/CAD lower on oil slump
The selling mood around CAD has picked up further speed after the barrel of West Texas Intermediate has broken below the psychological $30.00 mark during the European morning, all following Chinese woes and a generalized risk aversion.
On the data front, the US docket will take centre stage later, with December’s Retail Sales grabbing all the attention and seconded by Producer Prices, Capacity Utilization, Industrial Production and the Reuters/Michigan index.
USD/CAD significant levels
At the moment the pair is advancing 1.06% at 1.4516 with the next hurdle at 1.4600 (psychological level) followed by 1.4672 (high Apr.24 2003) and then 1.4946 (high Apr.7 2003). On the other hand, a breakdown of 1.4034 (20-day sma) would aim for 1.3793 (low Dec.24) and finally 1.3698 (3-month uptrend).