Friday, September 25, 2015

USD/CAD stuck within the range, near 1.3330

FXStreet (Edinburgh) - After hitting fresh 11-year tops beyond 1.3400 the figure on Thursday, USD/CAD has given away some gains and has now deflated towards the 1.3340 area.

USD/CAD focus on US data

The offered sentiment around the Canadian dollar remains well and sound at the end of the week, exacerbated as well by the persistent weakness around crude oil prices and the steady-to-bearish stance from the Bank of Canada.

Absent releases in Canada today, the main highlights will come from the USD-side, with Q2 GDP Annualized, PCE, Markit’s Services PMI, Reuters/Michigan index and speeches by E.George and J.Bullard.

USD/CAD levels to consider

The pair is now up 0.14% at 1.3327 with the next hurdle at 1.3356 (high Sep.25) followed by 1.3418 (high Sep.24) and then 1.3495 (high Jun.29 2004). On the other hand, a breach of 1.3303 (low Sep.25) would aim for 1.3233 (low Sep.23) and finally 1.3216 (low Sep.22).
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