USD/CAD Flirts With 1.3060 Zone After Dropping To 1.3000
FxGrow | Sep 23, 2016 04:31AM ET
The USD/CAD dropped to lowest near 1.3000 since 13 Sep then rallied up again trading around H5 PP 1.3060. The FOMC release leaving rates on the U.S dollar unchanged and the U.S Unemployment Claims yesterday, made the Canadian dollar move stronger than the greenback.
The U.S dollar has been moving very strong facing major currencies and commodities until Wednesday FOMC, Later on Unemployment Claims yesterday. The USD/CAD might drop more today if the Canadian Core CPI 1:30 PM GMT came positive supporting the Canadian dollar to move stronger than U.S dollar, and vise versa.
Trend : bearish
Key levels to watch: H5 PP 1.3064, First resistance 1.3094, R2 1.3127, R3 1.3149, R4 1.3196
First support S1 1.3038, S2 1.3000 , S3 1.2298, S4 1.2954
Remark: a bearish trend is more likable but the opposite trend cannot be excluded depending on the Canadian Core CPI press release today at 1:30 PM GMT.
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