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USD/CAD holding the range, eyes for 1.0800 2015

FXStreet (Guatemala) - USD/CAD is trading at 1.0947, up 0.06% on the day, having posted a daily high at 1.0982 and low at 1.0925.

USD/CAD is back into the middle of the range after a turbulent time over the releases of Canadian data today. Overall, we are generally in line with expectations but there were a number of misses across the board and as a result the pair looks to be closing the week in the middle of the 1.09 handle gaining half a big figure. Analysts at Rabobank explained that they look for the first BoC rate hike of the cycle at Q3 2015, a little ahead of the Fed. “We expect USD/CAD to hold current ranges near-term but see risk of a push below 1.08 at the start of 2015”.

USD/CAD hourly levels

With spot trading at 1.0947, we can see next resistance ahead at 1.0949 (Hourly 20 EMA), 1.0956 (Daily Classic PP), 1.0964 (Weekly Classic R1), 1.0970 (Weekly High) and 1.0973 (Monthly High). Support below can be found at 1.0941 (Daily Open), 1.0938 (Yesterday's Low), 1.0937 (Hourly 100 SMA), 1.0925 (Daily Low) and 1.0924 (Hourly 200 SMA).

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