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20 May 2015
USD/CAD struggles around 1.2200 ahead of Fed minutes
FXStreet (Córdoba) - USD/CAD has spent most of the day in quiet consolidation above the 1.2200 level as investors await the FOMC meeting minutes.
Canadian wholesales data came in line with expectations in March (0.8% versus 0.9% anticipated) while a slight recovery in oil price did little to help the loonie. USD/CAD continues to oscillate between 1.2200-1.2250 heading into the FOMC minutes release with the spot last trading at 1.2205, 0.2% below its opening price.
USD/CAD technical levels
In terms of technical levels, USD/CAD could find next supports at 1.2195 (daily low), 1.2129 (May 19 low) and 1.2100 (psychological level). On the flip side, resistances line up at 1.2255 (daily high) and 1.2300 (psychological level).
Canadian wholesales data came in line with expectations in March (0.8% versus 0.9% anticipated) while a slight recovery in oil price did little to help the loonie. USD/CAD continues to oscillate between 1.2200-1.2250 heading into the FOMC minutes release with the spot last trading at 1.2205, 0.2% below its opening price.
USD/CAD technical levels
In terms of technical levels, USD/CAD could find next supports at 1.2195 (daily low), 1.2129 (May 19 low) and 1.2100 (psychological level). On the flip side, resistances line up at 1.2255 (daily high) and 1.2300 (psychological level).