6 Mar 2015
USD/CAD looks to consolidate above 1.2600
FXStreet (Edinburgh) - The greenback seems to be taking a breather now, with USD/CAD attempting to cement the recent break above 1.2600 the figure.
USD/CAD boosted by Payrolls
The pair quickly climbed over a big-figure following the very auspicious results from the US labour market, with Payrolls coming in at 295K and the jobless rate ticking to 5.5% during the last month, lower than expected. The results, combined with poor Canadian figures from the Building Permits and a wider trade deficit gave spot extra wings to the low-1.2600s.
The US labour market continues to confirm the solid recovery, fuelling the speculations regarding the timing of the first rate hike by the Fed.
USD/CAD key levels
At the moment the pair is advancing 0.87% at 1.2615 and a surpass of 1.2625 (high Mar.6) would aim for 1.2662 (high Feb.24) and then 1.2697 (high Feb.11). On the downside, the immediate support aligns at 1.2577 (Kijun Sen) followed by 1.2565 (high Mar.2) and finally 1.2549 (high Mar.4).
USD/CAD boosted by Payrolls
The pair quickly climbed over a big-figure following the very auspicious results from the US labour market, with Payrolls coming in at 295K and the jobless rate ticking to 5.5% during the last month, lower than expected. The results, combined with poor Canadian figures from the Building Permits and a wider trade deficit gave spot extra wings to the low-1.2600s.
The US labour market continues to confirm the solid recovery, fuelling the speculations regarding the timing of the first rate hike by the Fed.
USD/CAD key levels
At the moment the pair is advancing 0.87% at 1.2615 and a surpass of 1.2625 (high Mar.6) would aim for 1.2662 (high Feb.24) and then 1.2697 (high Feb.11). On the downside, the immediate support aligns at 1.2577 (Kijun Sen) followed by 1.2565 (high Mar.2) and finally 1.2549 (high Mar.4).