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USD/CAD in highs around 1.0250

FXstreet.com (Barcelona) - Well, nothing seems to stop the greenback on its way up, as demonstrated by the fifth session in positive figures out of the last seven, or climbing from near parity levels to today’s tops around 1.0250.

Data wise, Canadian consumer prices are due later, and Tim Davis, Strategist at TD Securities commented, “Today’s inflation report should look rather soft… The weakness in core prices is expected to reflect lower auto prices and clothing prices, as well as base year effects, while headline inflation will also face downside pressure from energy prices”.

USD/CAD is now up 0.54% at 1.0251 with the next hurdle at 1.0279 (high Apr.24) ahead of 1.0286 (high Apr.22) and then 1.0295 (high Apr.17).
On the flip side, a breakdown of 1.0181 (low May 17) would expose 1.0159 (MA30d) and finally 1.0149 (low May 16).

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