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21 May 2015
USD/CAD clings to 1.2200
FXStreet (Edinburgh) - The greenback is marginally lower vs. its Canadian peer on Thursday, with USD/CAD now challenging the 1.2200 handle.
USD/CAD focus on US data
The pair is alternating gains with losses so far, albeit trading in a very narrow range. After hitting tops in the mid-1.2200s on Wednesday, the neutral tone of the FOMC minutes prompted a knee jerk to the 1.2170 area, although the pair managed to regain the 1.2200 mark afterwards.
Ahead in the day, US Initial Claims and Existing Home Sales are due ahead of speeches by Fischer and Williams.
USD/CAD significant levels
As of writing the pair is losing 0.01% at 1.2206 with the next support at 1.2169 (low May 21) ahead of 1.2130 (low May 19) and followed by 1.2000 (psychological level). On the flip side, a surpass of 1.2256 (high May 20) would allow 1.2269 (high Apr.23) and then 1.2287 (high Apr.22).
USD/CAD focus on US data
The pair is alternating gains with losses so far, albeit trading in a very narrow range. After hitting tops in the mid-1.2200s on Wednesday, the neutral tone of the FOMC minutes prompted a knee jerk to the 1.2170 area, although the pair managed to regain the 1.2200 mark afterwards.
Ahead in the day, US Initial Claims and Existing Home Sales are due ahead of speeches by Fischer and Williams.
USD/CAD significant levels
As of writing the pair is losing 0.01% at 1.2206 with the next support at 1.2169 (low May 21) ahead of 1.2130 (low May 19) and followed by 1.2000 (psychological level). On the flip side, a surpass of 1.2256 (high May 20) would allow 1.2269 (high Apr.23) and then 1.2287 (high Apr.22).