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USD/CAD muted post-GDP, near 1.3240

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The greenback is posting marginal losses vs. its Canadian peer at the end of the week, with USD/CAD meandering around 1.3240.

    USD/CAD unchanged on US data

    Spot has barely reacted to the auspicious results from the US GDP figures, showing the economy has expanded 1.4% on an annualized basis during Q4 2015, surpassing prior surveys at 1.0%.

    The current sideline pattern is expected to extend further amidst the generalized inactivity following the Good Friday holiday.

    USD/CAD significant levels

    As of writing the pair is losing 0.05% at 1.3240 and a break below 1.2919 (2016 low Mar.18) would expose 1.2827 (monthly low Oct.15 2015) and then 1.2124 (monthly low Jun.16). On the other hand, the next up barrier lines up at 1.3357 (200-day sma) ahead of 1.3596 (38.2% Fibo of 1.4692-1.2919) and finally 1.3680 (100-day sma).
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