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23 Jan 2015
USD/CAD trims gains after Canadian data
FXStreet (Córdoba) - USD/CAD pulled back from 6-year highs and trimmed recent gains as the loonie strengthened in the aftermath of soft Canadian CPI and strong retail sales data.
USD/CAD retreated from a high of 1.2456 back toward the 1.2375 area following mixed economic data from Canada. Consumer price index came in line with expectations, -0.7% MoM and +1.5% YoY, while retail sales rose 0.4% in November, beating -0.2% of consensus.
USD/CAD supports and resistances
At time of writing, USD/CAD is trading at the 1.2390 zone, virtually unchanged on the day. On the downside, immediate supports could be found at 1.2360 (daily low) and 1.2312 (Jan 22 low), while resistances line up at 1.2456 (daily high), 1.2474 (Apr 22 2009 high) and 1.2500 (psychological level).
USD/CAD retreated from a high of 1.2456 back toward the 1.2375 area following mixed economic data from Canada. Consumer price index came in line with expectations, -0.7% MoM and +1.5% YoY, while retail sales rose 0.4% in November, beating -0.2% of consensus.
USD/CAD supports and resistances
At time of writing, USD/CAD is trading at the 1.2390 zone, virtually unchanged on the day. On the downside, immediate supports could be found at 1.2360 (daily low) and 1.2312 (Jan 22 low), while resistances line up at 1.2456 (daily high), 1.2474 (Apr 22 2009 high) and 1.2500 (psychological level).