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27 Mar 2013
Forex: USD/CAD in highs ahead of Canadian CPI
FXstreet.com (Barcelona) - The USD rally is pushing the cross to session highs around 1.0190, closer to the psychological barrier of 1.0200 on Wednesday ahead of the inflation figures in the Canadian economy due later.
Consensus amongst traders expects the CPI to rise 0.8% in a year through February and 0.7% on a monthly basis vs. January’s 0.5% and 0.1%, respectively.
At the moment, the cross is up 0.26% at 1.0189 with the next resistance at 1.0222 (MA10d) ahead of 1.0251 (MA21d) and then 1.0315 (high Mar.8).
On the flip side, a breakdown of 1.0160 (low Feb.22) would aim for 1.0055 (low Feb.18) en route to 0.9995 (high Feb.5).
Consensus amongst traders expects the CPI to rise 0.8% in a year through February and 0.7% on a monthly basis vs. January’s 0.5% and 0.1%, respectively.
At the moment, the cross is up 0.26% at 1.0189 with the next resistance at 1.0222 (MA10d) ahead of 1.0251 (MA21d) and then 1.0315 (high Mar.8).
On the flip side, a breakdown of 1.0160 (low Feb.22) would aim for 1.0055 (low Feb.18) en route to 0.9995 (high Feb.5).