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USD/CAD well supported near 1.3300

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The Canadian dollar is trading almost unchanged vs. its American peer on Tuesday, with USD/CAD meandering in the low-1.33s ahead of US releases.

    USD/CAD attention to US CPI

    Spot is surrendering part of the recent important advance to multi-month peaks in the upper-1.3300s, although occasional pullbacks seem to be well contained around the 1.3300 neighbourhood.

    Ahead in the session, the greenback will be under scrutiny in light of the publication of the inflation figures in the US economy, followed by the NAHB index, Industrial Production and Capacity Utilization.

    USD/CAD levels to consider

    As of writing, the pair is down 0.01% at 1.3327 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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