20 Mar 2015
USD/CAD upside limited – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Dhwani Mehta, views that with dollar remaining subdued across the board, any upside move in USD/CAD above 1.2750 might be limited.
Key Quotes
“Technically, USD/CAD continues to strive for a major break through 1.27 barrier, bouncing off several attempts to sustain above that level.”
“A sustained break above 1.2700 may be witnessed on disappointing Canadian economic data, opening doors for further upside testing 1.2750 levels.”
“However, the upside in USD/CAD looks limited as the US dollar remains subdued across the board awaiting fresh cues from speeches by Fed officials Lockhart and Evans later in the session.”
“On the other contrary, if the Canadian data beats expectations or comes out mixed, the pair may witness a sharp sell‐off and drop to 1.26 handle.”
Key Quotes
“Technically, USD/CAD continues to strive for a major break through 1.27 barrier, bouncing off several attempts to sustain above that level.”
“A sustained break above 1.2700 may be witnessed on disappointing Canadian economic data, opening doors for further upside testing 1.2750 levels.”
“However, the upside in USD/CAD looks limited as the US dollar remains subdued across the board awaiting fresh cues from speeches by Fed officials Lockhart and Evans later in the session.”
“On the other contrary, if the Canadian data beats expectations or comes out mixed, the pair may witness a sharp sell‐off and drop to 1.26 handle.”