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USD/CAD keeps highs near 1.3280

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 12, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The Canadian dollar is giving away part of its initial gains vs. its American counterpart on Thursday, taking USD/CAD to the 1.3270/80 band.

    USD/CAD attention to US docket

    The pair is advancing for the first time in the week, managing to bounce off the 1.3220 handle although a sustainable break above the 1.3300 mark still remains elusive.

    Ahead in the session, US Initial Claims are due later although the more relevant developments will come from the Fedspeak, as Yellen, Bullard, Dudley, Lacker and Fischer are all due to speak later.

    USD/CAD levels to consider

    As of writing, the pair is up 0.07% at 1.3274 with the next hurdle at 1.3317 (high Nov.6) ahead of 1.3355 (high Aug.25) and then 1.3458 (high Sep.29). On the flip side, a break below 1.3182 (55-day sma) would open the door to 1.3069 (61.8% Fibo of 1.3459-1.2827) and finally 1.2996 (5-month uptrend).
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