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USD/CAD clings to gains near 1.3760, US CPI on sight

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The greenback is posting meagre gains vs. its Canadian peer on Friday, with USD/CAD in a sideline pattern around 1.3760.

    USD/CAD attention to oil, data

    Spot is managing to advance for the second session in a row today, retaking the 1.3760 region after dropping to the mid-1.3600s on Thursday. CAD keeps the choppy trade following crude oil dynamics, with the barrel of WTI around $32.70 after the opening bell in Euroland.

    Ahead in the day, inflation figures in both Canada and the US will take centre stage later in the NA session. Prior surveys expects US consumer prices to have climbed 1.7% on a year to January, surpassing the previous 0.7% advance.

    USD/CAD significant levels

    As of writing the pair is up 0.10% at 1.3765 and a surpass of 1.3916 (20-day sma) would expose 1.3968 (55-day sma) and then 1.4327 (high Jan.26). On the other hand, the next support aligns at 1.3635 (low Feb.4) ahead of 1.3616 (100-day sma) and finally 1.3232 (200-day sma).
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