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27 Mar 2015
USD/CAD deflates to 1.2470
FXStreet (Edinburgh) - The greenback is now losing vigour vs. its Canadian neighbour, dragging USD/CAD to challenge session lows near 1.2470, albeit recovering some ground afterwards.
USD/CAD weaker after US data
The pair attempted a knee-jerk to the 1.2470 area after the US GDP grew 2.2% on an annualized basis during Q4, below the median at 2.4%. Consumer prices tracked by the Personal Consumption Expenditures matched expectations in general, with headline PCE contracting 0.4% and Core PCE up 1.1% during the same period.
Ahead in the session, the Reuters/Michigan index and J.Yellen’s speech will keep investors entertained.
USD/CAD key levels
As of writing the pair is up 0.07% at 1.2491 with the next resistance at 1.2529 (high Mar.26) ahead of 1.2546 (low Mar.24) and then 1.2596 (21-d MA). On the flip side, a breakdown of 1.2410 (high Mar.26) would expose 1.2407 (low Mar.5) and finally 1.2388 (low Feb.26).
USD/CAD weaker after US data
The pair attempted a knee-jerk to the 1.2470 area after the US GDP grew 2.2% on an annualized basis during Q4, below the median at 2.4%. Consumer prices tracked by the Personal Consumption Expenditures matched expectations in general, with headline PCE contracting 0.4% and Core PCE up 1.1% during the same period.
Ahead in the session, the Reuters/Michigan index and J.Yellen’s speech will keep investors entertained.
USD/CAD key levels
As of writing the pair is up 0.07% at 1.2491 with the next resistance at 1.2529 (high Mar.26) ahead of 1.2546 (low Mar.24) and then 1.2596 (21-d MA). On the flip side, a breakdown of 1.2410 (high Mar.26) would expose 1.2407 (low Mar.5) and finally 1.2388 (low Feb.26).