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29 Jul 2015
USD/CAD supported around 1.2920
FXStreet (Edinburgh) - The greenback is recovering ground vs. its Canadian counterpart on Wednesday, with USD/CAD now looking to consolidate near 1.2940.
USD/CAD down from 1.3040
Spot has given away more than a big figure since weekly tops just beyond 1.3040 following a resurgence of the offered tone around the greenback. The recent better tone in crude oil prices has lent extra support to the Canadian dollar, collaborating with this week’s downside.
Ahead in the session, US Pending Home Sales are due next, followed by the critical FOMC meeting. It is worth noting that despite opinions remains divided regarding the potential tone of the statement, market expectations for a Fed’s lift-off in September seem unchanged around 50% according to last surveys.
USD/CAD key levels
As of writing the pair is advancing 0.17% at 1.2944 with the initial hurdle at 1.2969 (high Jul.29) followed by 1.3043 (high Jul.28) and then 1.3046 (high Jul.23). On the other hand, a break below 1.2919 (low Jul.29) would expose 1.2911 (low Jul.28) and finally 1.2728 (low Jul.16).
USD/CAD down from 1.3040
Spot has given away more than a big figure since weekly tops just beyond 1.3040 following a resurgence of the offered tone around the greenback. The recent better tone in crude oil prices has lent extra support to the Canadian dollar, collaborating with this week’s downside.
Ahead in the session, US Pending Home Sales are due next, followed by the critical FOMC meeting. It is worth noting that despite opinions remains divided regarding the potential tone of the statement, market expectations for a Fed’s lift-off in September seem unchanged around 50% according to last surveys.
USD/CAD key levels
As of writing the pair is advancing 0.17% at 1.2944 with the initial hurdle at 1.2969 (high Jul.29) followed by 1.3043 (high Jul.28) and then 1.3046 (high Jul.23). On the other hand, a break below 1.2919 (low Jul.29) would expose 1.2911 (low Jul.28) and finally 1.2728 (low Jul.16).