USD/CAD within range after US data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - The dollar is trading almost unchanged vs. its Canadian counterpart on Thursday, with USD/CAD trading within the daily range near 1.3570.

    USD/CAD muted on Claims

    The pair kept the composure after US Initial Claims have missed expectations during last week, increasing to 282K vs. 262K estimated, while Export Prices dropped 0.6% MoM in November and Import Prices have contracted 0.4% during the same period.

    Back to Canada, Capacity Utilization ticked higher to 82.0% during the third quarter, while New Housing Price index gained 0.3% during the last month.

    USD/CAD levels to consider

    As of writing, the pair is up 0.07% at 1.3573 with the next resistance at 1.3621 (2015 high Dec.3) followed by 1.3700 (psychological level). On the other hand, a breakdown of 1.3226 (55-day sma) would expose 1.3200 (100-day sma) and then 1.3163 (7-month uptrend).
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