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USD/CAD keeps 1.33 post-US releases

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 17, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - USD/CAD remained practically unchanged around the 1.3300 neighbourhood following today’s releases in the US calendar.

    USD/CAD within range on data

    The pair keeps the daily range after US headline CPI rose more than estimated, 0.2% on a year to October, while Industrial Production contracted 0.2% vs. a 0.2% gain forecasted and Capacity Utilization has eased a tad to 77.5% from September’s 77.7%. All in all, mixed results that could temporarily hamper the ongoing USD strength, albeit unable to affect the probability of a Fed’s lift-off next month.

    Next on tap will be the NAHB index and TIC flows, all followed by speeches by FOMC’s Tarullo and Powell.

    USD/CAD levels to consider

    As of writing, the pair is down 0.12% at 1.3308 with the next support at 1.3217 (38.2% Fibo of 1.3459-1.2827) ahead of 1.3187 (55-day sma) and then 1.3114 (100-day sma). On the other hand, a breakout of 1.3363 (downtrend from 1.3458) would open the door to 1.3371 (high Nov.16) and then 1.3458 (2015 high Sep.29).
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