The greenback is giving away part of the initial gains vs. its neighbour on Wednesday, now sending USD/CAD to the 1.2625/20 band.
USD/CAD boosted by BoC dovishness, USD strength
The Canadian dollar extends its decline following a renewed offered tone from the crude oil and the recent dovish appreciations by BoC’s Wilkins (Tuesday). Adding to the upside, the US dollar sees its demand revived amidst increasing concerns around Greece and the Ukraine.
USD/CAD levels to consider
At the moment the pair is gaining 0.44% at 1.2630 with the next resistance at 1.2700 (psychological level) ahead of 1.2772 (high Feb.2) and finally 1.2799 (2015 high Jan.30). On the other hand, a breach of 1.2428 (low Feb.9) would open the door to 1.2394 (low Feb.5) followed by 1.2390 (low Feb.4).
USD/CAD boosted by BoC dovishness, USD strength
The Canadian dollar extends its decline following a renewed offered tone from the crude oil and the recent dovish appreciations by BoC’s Wilkins (Tuesday). Adding to the upside, the US dollar sees its demand revived amidst increasing concerns around Greece and the Ukraine.
USD/CAD levels to consider
At the moment the pair is gaining 0.44% at 1.2630 with the next resistance at 1.2700 (psychological level) ahead of 1.2772 (high Feb.2) and finally 1.2799 (2015 high Jan.30). On the other hand, a breach of 1.2428 (low Feb.9) would open the door to 1.2394 (low Feb.5) followed by 1.2390 (low Feb.4).
