Trading news

USD/CAD struggles around 1.3100 handle

Currently, USD/CAD is trading at 1.3123, down -0.36% on the day, having posted a daily high at 1.3163 and low at 1.3087.

The American dollar vs. Canadian dollar has been in a deeper 'not expected' correction from 1.3597 (high Dec.25) amid an increase in rates by the Fed and at least, the ongoing euphoria among members to raise faster and some discussing in public 'feeling' comfortable with even 3-hikes.

Historical data available for traders and investors, during January, indicates that USD/CAD had the pairs' best trading day at +1.71% (Jan.18) and the worst at -1.02% (Jan.17).

If prices were to open and close below such important line of defense the US dollar perspective changes on the spot. To the downside, supports are aligned at 1.2790-60 region (horizontal support) and below that at 1.2475 (horizontal support) near 1.2460 (low May 2016).

AG Markets Review

Wednesday, 25 Jan, 2017 / 3:51

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