OctaFX | OctaFX Forex Broker
Open trading account

USD/CAD dips to lows around 1.1330

FXStreet (Edinburgh) - The greenback is losing the grip vs. its Canadian counterpart on Thursday, dragging USD/CAD to session lows in the 1.1330 area.

USD/CAD focus on US docket

After climbing to the vicinity of 1.1370 in early trade, the pair has been deflating to current levels, while traders shift their focus to the key US CPI figures and the manufacturing PMI gauged by Markit. According to market consensus, consumer prices in the US economy are expected at 1.6% on a yearly basis, while the Markit’s manufacturing PMI would come at 56.4, higher than the 55.9 previous. “We expect some support around the 1.13 area but firmer support to emerge on weakness to the mid/upper 1.12s for now”, suggested analysts at TD Securities.

USD/CAD levels to watch

At the moment the pair is losing 0.21% at 1.1326 with the next support at 1.1295 (low Nov.19) followed by 1.1260 (low Nov.18) and then 1.1253 (61.8% of 1.1122-1.1466). On the flip side, a breakout of 1.1360 (high Nov.19) would aim for 1.1394 (high Nov.14) and finally 1.1402 (high Nov.11).

Credit Agricole: Staying Long EUR/USD – eFXnews

The eFXnews Team note that Credit Agricole positions itself long for the EUR/USD pair, targeting 1.31.
Read more Previous

Poland Industrial Output (YoY) down to 1.6% in October from previous 4.2%

Read more Next
Start livechat