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6 Aug 2015
USD/CAD retreats from 1.3200
FXStreet (Edinburgh) - The Canadian dollar is now alternating gains with losses vs. its American neighbour on Thursday, with USD/CAD hovering around 1.3180/75.
USD/CAD capped by 1.3200
Spot quickly climbed to the vicinity of 1.3200 the figure after US Initial Claims once again surprised to the upside, coming in at 270K during the week ended on July 31st, bettering consensus at 273K albeit a tad higher than the previous week’s print at 267K.
The pair’s upside momentum remains intact so far, keeping the trade in the area of recent cycle highs just above the 1.3200 handle ahead of the critical releases from the US and Canadian labour markets due tomorrow.
USD/CAD relevant levels
At the moment the pair is losing 0.01% at 1.3176 with the next support at 1.3151 (low Aug.5) followed by 1.3103 (low Aug.4) and then 1.2940 (low Jul.31). On the other hand, a breakout of 1.3199 (high Aug.5) would aim for 1.3215 (2015 high Aug.5) and finally 1.3344 (monthly high July 2004).
USD/CAD capped by 1.3200
Spot quickly climbed to the vicinity of 1.3200 the figure after US Initial Claims once again surprised to the upside, coming in at 270K during the week ended on July 31st, bettering consensus at 273K albeit a tad higher than the previous week’s print at 267K.
The pair’s upside momentum remains intact so far, keeping the trade in the area of recent cycle highs just above the 1.3200 handle ahead of the critical releases from the US and Canadian labour markets due tomorrow.
USD/CAD relevant levels
At the moment the pair is losing 0.01% at 1.3176 with the next support at 1.3151 (low Aug.5) followed by 1.3103 (low Aug.4) and then 1.2940 (low Jul.31). On the other hand, a breakout of 1.3199 (high Aug.5) would aim for 1.3215 (2015 high Aug.5) and finally 1.3344 (monthly high July 2004).