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30 Nov 2015
USD/CAD gearing up for 1.3400
FXStreet (Edinburgh) - The greenback is extending its upside momentum vs. its main rivals at the beginning of the week, lifting USD/CAD to the boundaries of 1.3400 the figure
USD/CAD focus on US docket
The bid tone around USD remains unabated on Monday, backed by mounting expectations of a Fed’s lift-off in December and the solid performance of US Treasuries. In addition, month-end flows seem to be benefiting the greenback for the time being.
In the data space, Canadian Current Account is due for the third quarter, while Pending Home Sales, Chicago PMI and the Dallas Fed Manufacturing Business Index in November are all due in the US calendar.
USD/CAD levels to consider
As of writing, the pair is up 0.13% at 1.3388 facing the next resistance at 1.3437 (high Nov.23) ahead of 1.3458 (2015 high Sep.29) and then 1.3500 (psychological level). On the slip side, a break below 1.3217 (38.2% Fibo of 1.3459-1.2827) would aim for 1.3199 (55-day sma) and then 1.3166 (100-day sma).
USD/CAD focus on US docket
The bid tone around USD remains unabated on Monday, backed by mounting expectations of a Fed’s lift-off in December and the solid performance of US Treasuries. In addition, month-end flows seem to be benefiting the greenback for the time being.
In the data space, Canadian Current Account is due for the third quarter, while Pending Home Sales, Chicago PMI and the Dallas Fed Manufacturing Business Index in November are all due in the US calendar.
USD/CAD levels to consider
As of writing, the pair is up 0.13% at 1.3388 facing the next resistance at 1.3437 (high Nov.23) ahead of 1.3458 (2015 high Sep.29) and then 1.3500 (psychological level). On the slip side, a break below 1.3217 (38.2% Fibo of 1.3459-1.2827) would aim for 1.3199 (55-day sma) and then 1.3166 (100-day sma).