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USD/CAD attempts a rebound to 1.3550

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    USD/CAD has recovered the ground lost after dropping to the vicinity of the key support at 1.3500, hovering over 1.3540 ahead of US data.

    USD/CAD attention to US docket

    Crude oil prices are now retreating from session highs albeit they remain in the positive ground so far, prompting CAD to surrender the earlier advance to 2-month highs vs. its American neighbor.

    Next of relevance for the pair will be US Q4 GDP figures, followed by Personal Income/Spending, Trade Balance and inflation figures tracked by the PCE.

    USD/CAD significant levels

    As of writing the pair is up 0.03% at 1.3545 and a surpass of 1.3647 (100-day sma) would aim for 1.3804 (20-day sma) and then 1.4103 (high Feb.3). On the other hand, the next support lines up at 1.3268 (200-day sma) followed by 1.3034 (low Nov.3 2015) and then 1.2827 (low Oct.15 2015).
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