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22 Oct 2015
USD/CAD keeps 1.31 on data
FXStreet (Edinburgh) - The Canadian dollar is regaining some ground following the release of US and CAD data, with USD/CAD returning to the 1.3110/15 area.
USD/CAD a tad weaker post-data
The pair manages well to keep the trade above the 1.3100 handle after Canadian retail sales have expanded more than initially estimated 0.5% MoM, while coming in flat when excluding the Autos sector.
On the US side, Initial Claims came in at 259K vs. 260K expected, while the Chicago Fed National Activity index came in at -0.37 vs. -0.05 previously estimated.
USD/CAD levels to consider
As of writing, the pair is retreating 0.09% at 1.3126 with the next support at 1.3095 (Fibo 23.6% of 1.1916-1.3458) followed by 1.2946 (100-day sma) and then 1.2871 (uptrend from June lows). On the other hand, a breakout of 1.3163 (55-day sma) would aim for 1.3355 (high Aug.25) and then 1.3458 (high Sep.24).
USD/CAD a tad weaker post-data
The pair manages well to keep the trade above the 1.3100 handle after Canadian retail sales have expanded more than initially estimated 0.5% MoM, while coming in flat when excluding the Autos sector.
On the US side, Initial Claims came in at 259K vs. 260K expected, while the Chicago Fed National Activity index came in at -0.37 vs. -0.05 previously estimated.
USD/CAD levels to consider
As of writing, the pair is retreating 0.09% at 1.3126 with the next support at 1.3095 (Fibo 23.6% of 1.1916-1.3458) followed by 1.2946 (100-day sma) and then 1.2871 (uptrend from June lows). On the other hand, a breakout of 1.3163 (55-day sma) would aim for 1.3355 (high Aug.25) and then 1.3458 (high Sep.24).