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USD/CAD surges to 1.0300 level after CPI in Canada

FXstreet.com (Barcelona) - The USD/CAD surge has been unchecked, barreling through multiple resistances and establishing a fresh intraday high of 1.0303/08, or +1.02%.

Following an earlier surge above resistance at 1.0270 and 1.0295, Mataf.net analysts point to the next level of correction for the USD/CAD at 1.0310 and 1.0355. On the decline, supportive structures abound at 1.0154, ahead of 1.0123, and finally 1.0096.

In Canada, the Bank of Canada Consumer Price Index Core (YoY and MoM) came in at +1.1% in April (against expectations of +1.2%) and +0.1% in April (vs. a projection of +0.2%). Additionally, the Consumer Price Index (YoY) yielded a climb of +0.4% in April, against estimates of +0.6%.

Canada: Bank of Canada Consumer Price Index Core (YoY) up 1.1% in Apr; (MoM) grows 0.1%

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