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10 Apr 2015
USD/CAD returns below 1.2600
FXStreet (Edinburgh) - The US dollar lost the grip vs. its Canadian peer on Friday, allowing USD/CAD to deflate to sub-1.2600 levels.
USD/CAD off highs near 1.2670
After reaching fresh weekly highs around 1.2670, the upside momentum in USD/CAD run out of steam and triggered a correction to the current 1.2590/85 band.
Very auspicious results from the Canadian labour market plus a solid performance from the crude oil prices have lent further support to the Canadian dollar, collaborating with the knee-jerk from daily tops.
USD/CAD levels to watch
At the moment the pair is advancing 0.05% at 1.2585 with the next hurdle at 1.2668 (high Apr.10) followed by 1.2710 (high Apr.1) and finally 1.2784 (high Mar.31). On the other hand, a breakdown of 1.2578 (low Apr.1) would aim for 1.2574 (high Apr.3) and then 1.2559 (low Apr.8).
USD/CAD off highs near 1.2670
After reaching fresh weekly highs around 1.2670, the upside momentum in USD/CAD run out of steam and triggered a correction to the current 1.2590/85 band.
Very auspicious results from the Canadian labour market plus a solid performance from the crude oil prices have lent further support to the Canadian dollar, collaborating with the knee-jerk from daily tops.
USD/CAD levels to watch
At the moment the pair is advancing 0.05% at 1.2585 with the next hurdle at 1.2668 (high Apr.10) followed by 1.2710 (high Apr.1) and finally 1.2784 (high Mar.31). On the other hand, a breakdown of 1.2578 (low Apr.1) would aim for 1.2574 (high Apr.3) and then 1.2559 (low Apr.8).