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17 Apr 2014
USD/CAD breaks below 1.1000
FXStreet (San Francisco) - The US dollar is losing ground against its Canadian counterpart as the pair broke the 1.1000 level to extend its decline from 1.1017 to 1.0990.
Currently, USD/CAD is trading at 1.0994, down -0.14% on the day, having posted a daily high at 1.1020 and low at 1.0989. USD/CAD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
Canadian CPI expanded at an annual pace of 1.5% during March, surpassing forecasts for a 1.4% advance. On a monthly basis, prices rose 0.6% vs. 0.4% expected. The BoC Core reading banged on estimates, rising 1.3% over the last twelve months.
USDCAD levels
Below the 1.1000, the pair would face supports at 1.0975 and 1.0960. On the upside, resistances are at 1.1015, 1.1030 and 1.1045.