11 Jun 2015
USD/CAD back to 1.2300 after bout of volatility
FXStreet (Córdoba) - USD/CAD continues to trade on both sides of 1.2300 after the latest series of US and Canadian data sparked a bout of volatility.
USD/CAD oscillated, hitting a high of 1.2353 and a low of 1.2282 within minutes to finally settle around the 1.23 mark. At time of writing, the pair is trading at 1.2305, 0.41% above its opening price.
On the data front, US reported a 1.2% rise in May retail sales, versus 1.1% expected, while Canada published in line with expectations housing price data and Q1 capacity utilization (82.7% versus 83.0% expected).
USD/CAD levels to watch
In terms of technical levels, USD/CAD could find immediate resistances at 1.2353 (daily high), 1.2400 (psychological level) and 1.2413 (100-day SMA). On the other hand, supports are seen at 1.2252 (daily low) and 1.2200 (psychological level/Jun 10 low).
USD/CAD oscillated, hitting a high of 1.2353 and a low of 1.2282 within minutes to finally settle around the 1.23 mark. At time of writing, the pair is trading at 1.2305, 0.41% above its opening price.
On the data front, US reported a 1.2% rise in May retail sales, versus 1.1% expected, while Canada published in line with expectations housing price data and Q1 capacity utilization (82.7% versus 83.0% expected).
USD/CAD levels to watch
In terms of technical levels, USD/CAD could find immediate resistances at 1.2353 (daily high), 1.2400 (psychological level) and 1.2413 (100-day SMA). On the other hand, supports are seen at 1.2252 (daily low) and 1.2200 (psychological level/Jun 10 low).