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Trading news
2 Feb 2016
USD/CAD clinches highs near 1.4070
FXStreet (Edinburgh) - The selling interest is now gathering traction around CAD, pushing USD/CAD once again towards the area of session highs near 1.4070.
USD/CAD stronger as oil slumps
The Canadian dollar is now testing fresh lows vs. its American neighbour as crude oil prices are intensifying its daily losses, with the barrel of West Texas Intermediate navigating daily lows near the $30.00 mark.
Nothing major expected on the data front, with US IBD/TIPP index due later and ahead of the speech by Fed’s E.George and the release of the weekly report on crude oil stocks by the API.
USD/CAD significant levels
As of writing the pair is up 0.97% at 1.4068 and a surpass of 1.4225 (20-day sma) would open the door to 1.4327 (high Jan.26) and then 1.4692 (high Jan.20). On the other hand, the immediate support lines up at 1.3877 (3-month uptrend) ahead of 1.3812 (low Jan.4) and finally 1.3552 (100-day sma).
USD/CAD stronger as oil slumps
The Canadian dollar is now testing fresh lows vs. its American neighbour as crude oil prices are intensifying its daily losses, with the barrel of West Texas Intermediate navigating daily lows near the $30.00 mark.
Nothing major expected on the data front, with US IBD/TIPP index due later and ahead of the speech by Fed’s E.George and the release of the weekly report on crude oil stocks by the API.
USD/CAD significant levels
As of writing the pair is up 0.97% at 1.4068 and a surpass of 1.4225 (20-day sma) would open the door to 1.4327 (high Jan.26) and then 1.4692 (high Jan.20). On the other hand, the immediate support lines up at 1.3877 (3-month uptrend) ahead of 1.3812 (low Jan.4) and finally 1.3552 (100-day sma).