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20 Dec 2013
USD/CAD rises to 1.0728 daily highs
FXstreet.com (Chicago) - USD/CAD has advanced 0.56% so far today on data-driven price movement after a better than expected US GDP results.
Data-driven price reaction
The consumer price index (MoM) was 0% vs. expected 0.1%. The BoC consumer price index core (YoY) was 1.1% vs. estimates at 1.2%. The YoY consumer price index was 0.9% vs. expectd 1%. In the US, the GDP annualized was 4.1% vs. expected 3.6%.
USD/CAD Technical Levels
Price action reveals the pair soared shortly after the release of data and is now 0.56% stronger for the day recording a stellar advancement of 1.32%. Technically speaking, the pair is offered at 1.0731 and navigates between the supports aligned at 1.07 (December 6th highs), 1.0666 (December 12th highs) ahead of 1.0619 (December 5th lows) and the resistances set at 1.0727 (December 18th highs), 1.0780 (January 17th 2010 highs) followed by 1.0846 (May 20th 2010 highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and presents a neutral EMA20.
Data-driven price reaction
The consumer price index (MoM) was 0% vs. expected 0.1%. The BoC consumer price index core (YoY) was 1.1% vs. estimates at 1.2%. The YoY consumer price index was 0.9% vs. expectd 1%. In the US, the GDP annualized was 4.1% vs. expected 3.6%.
USD/CAD Technical Levels
Price action reveals the pair soared shortly after the release of data and is now 0.56% stronger for the day recording a stellar advancement of 1.32%. Technically speaking, the pair is offered at 1.0731 and navigates between the supports aligned at 1.07 (December 6th highs), 1.0666 (December 12th highs) ahead of 1.0619 (December 5th lows) and the resistances set at 1.0727 (December 18th highs), 1.0780 (January 17th 2010 highs) followed by 1.0846 (May 20th 2010 highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and presents a neutral EMA20.