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2 Mar 2016
USD/CAD pushes higher, 1.3500 around the corner?
The greenback is now accelerating its gains vs. its Canadian peer, sending USD/CAD to post fresh session highs near the 1.3500 key barrier.
USD/CAD stronger on ADP, oil drop
Crude oil prices remain on the downside so far, removing a significant support for CAD and thus helping spot to return to the boundaries of 1.3500 the figure. In addition, US ADP report has come in stronger than initially expected, showing the private sector added 214K jobs from January to February.
Ahead in the day, the Fed’s Beige Book is due in the European evening, expected to signal a continuation of the generalized and moderate growth in the US economy.
USD/CAD significant levels
As of writing the pair is advancing 0.50% at 1.3483 facing the next resistance at 1.3661 (100-day sma) followed by 1.3735 (20-day sma) and then 1.3957 (55-day sma). On the flip side, a breakdown of 1.3383 (low Mar.1) would open the door to 1.3284 (200-day sma) and finally 1.3034 (low Nov.3 2015).
USD/CAD stronger on ADP, oil drop
Crude oil prices remain on the downside so far, removing a significant support for CAD and thus helping spot to return to the boundaries of 1.3500 the figure. In addition, US ADP report has come in stronger than initially expected, showing the private sector added 214K jobs from January to February.
Ahead in the day, the Fed’s Beige Book is due in the European evening, expected to signal a continuation of the generalized and moderate growth in the US economy.
USD/CAD significant levels
As of writing the pair is advancing 0.50% at 1.3483 facing the next resistance at 1.3661 (100-day sma) followed by 1.3735 (20-day sma) and then 1.3957 (55-day sma). On the flip side, a breakdown of 1.3383 (low Mar.1) would open the door to 1.3284 (200-day sma) and finally 1.3034 (low Nov.3 2015).