19 Jun 2015
USD/CAD remains capped by 1.2300
FXStreet (Córdoba) - The dollar managed to recover from Fed statement and trimmed losses versus the loonie, although it remains on track to post its second weekly loss in a row.
USD/CAD advanced sharply over the last sessions and recovered from a 1-month low of 1.212, mainly due to CAD weakness on the back of disappointing domestic retail sales data. However, the bounce faltered a few pips shy of the 1.23 mark, confining the pair to a phase of consolidation. At time of writing, USD/CAD is trading at 1.2282, up 0.49% on the day.
USD/CAD levels to watch
In terms of technical levels, USD/CAD could find immediate resistances at 1.2295 (Jun 19 high/10-day SMA), 1.2345 (Jun 16 & 17 highs) and 1.2365 (21-day SMA). On the other hand, supports are seen at 1.2242 (50-day SMA), 1.2214 (Jun 19 low) and 1.2200 (psychological level).
USD/CAD advanced sharply over the last sessions and recovered from a 1-month low of 1.212, mainly due to CAD weakness on the back of disappointing domestic retail sales data. However, the bounce faltered a few pips shy of the 1.23 mark, confining the pair to a phase of consolidation. At time of writing, USD/CAD is trading at 1.2282, up 0.49% on the day.
USD/CAD levels to watch
In terms of technical levels, USD/CAD could find immediate resistances at 1.2295 (Jun 19 high/10-day SMA), 1.2345 (Jun 16 & 17 highs) and 1.2365 (21-day SMA). On the other hand, supports are seen at 1.2242 (50-day SMA), 1.2214 (Jun 19 low) and 1.2200 (psychological level).