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USD/CAD around 1.3330 on mixed US data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 25, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The greenback remains on the right footing vs. its Canadian peer on Wednesday, taking USD/CAD to the 1.3330/25 band so far.

    USD/CAD indifferent on data

    The pair kept the upper end of the daily range in spite of US Consumer Sentiment tracked by the Reuters/Michigan index has missed expectations for the current month, coming in at 91.3 vs. 93.0 forecasted. New Home Sales have also come in below expectations at 0.495M inter-month in October, albeit better than October’s 0.468M.

    Previously, Markit’s Services PMI came in at 56.5 for the month of November vs. 55.2 anticipated.

    USD/CAD levels to consider

    As of writing, the pair is up 0.16% at 1.3330 facing the next resistance at 1.3437 (high Nov.23) ahead of 1.3458 (2015 high Sep.29) and then 1.3500 (psychological level). On the slip side, a break below 1.3217 (38.2% Fibo of 1.3459-1.2827) would aim for 1.3192 (55-day sma) and then 1.3140 (100-day sma).
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