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15 Apr 2015
USD/CAD off highs, back to 1.2520
FXStreet (Edinburgh) - The current upside in USD/CAD seems to have stalled around the 1.2570 area on Wednesday, ahead of the BoC meeting.
USD/CAD attention to BoC, Poloz
The pair practically ignored another poor release of the US docket, with Industrial Production and Capacity Utilization missing expectations, contracting 0.6% inter-month in March and dropping to 78.4% during last month.
Next of relevance will be the BoC monetary policy meting and the subsequent press conference by Governor S.Poloz. Previously, Canadian Manufacturing Shipments contracted 1.7% on a monthly basis during February.
USD/CAD levels to watch
At the moment the pair is advancing 0.31% at 1.2525 and a breakout of 1.2555 (low Apr.13) would open the door to 1.2600 (psychological level) and then 1.2613 (high Apr.9). On the other hand, the immediate support lines up at 1.2468 (low Apr.14) followed by 1.2455 (low Apr.7) and finally 1.2430 (low Apr.3).
USD/CAD attention to BoC, Poloz
The pair practically ignored another poor release of the US docket, with Industrial Production and Capacity Utilization missing expectations, contracting 0.6% inter-month in March and dropping to 78.4% during last month.
Next of relevance will be the BoC monetary policy meting and the subsequent press conference by Governor S.Poloz. Previously, Canadian Manufacturing Shipments contracted 1.7% on a monthly basis during February.
USD/CAD levels to watch
At the moment the pair is advancing 0.31% at 1.2525 and a breakout of 1.2555 (low Apr.13) would open the door to 1.2600 (psychological level) and then 1.2613 (high Apr.9). On the other hand, the immediate support lines up at 1.2468 (low Apr.14) followed by 1.2455 (low Apr.7) and finally 1.2430 (low Apr.3).