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USD/CAD in highs above 1.3200

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 27, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The greenback remains on a firmer footing vs. its Canadian peer on Tuesday, sending USD/CAD to advance beyond the key barrier at 1.3200 the figure.

    USD/CAD stronger on releases, BoC eyed

    Spot is advancing further today after the S&P/Case-Shiller index came in as expected, expanding 5.1% on a year to August. Previously, US Durable Goods Orders have contracted more than expected 1.2% during September, although spot has quickly shrugged off the results.

    Ahead in the session, US Consumer Confidence is due followed by the speech by BoC Deputy Governor T.Lane.

    USD/CAD levels to consider

    As of writing, the pair is advancing 0.47% at 1.3214 with the next hurdle at 1.3310 (23.6% Fibo of 1.3459-1.2827) ahead of 1.3400 (psychological handle) and then 1.3459 (high Sep.29). On the other hand, a breakdown of 1.3069 (61.8% Fibo of 1.3459-1.2827) would open the door to 1.3000 (psychological level) and finally 1.2988 (100-day sma).
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