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17 Apr 2014
USD/CAD breaks below 1.1000
FXStreet (San Francisco) - The US dollar is losing ground against its Canadian counterpart as the pair broke the 1.1000 level to extend its decline from 1.1017 to 1.0990.
Currently, USD/CAD is trading at 1.0994, down -0.14% on the day, having posted a daily high at 1.1020 and low at 1.0989. USD/CAD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
Canadian CPI expanded at an annual pace of 1.5% during March, surpassing forecasts for a 1.4% advance. On a monthly basis, prices rose 0.6% vs. 0.4% expected. The BoC Core reading banged on estimates, rising 1.3% over the last twelve months.
USDCAD levels
Below the 1.1000, the pair would face supports at 1.0975 and 1.0960. On the upside, resistances are at 1.1015, 1.1030 and 1.1045.
Currently, USD/CAD is trading at 1.0994, down -0.14% on the day, having posted a daily high at 1.1020 and low at 1.0989. USD/CAD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
Canadian CPI expanded at an annual pace of 1.5% during March, surpassing forecasts for a 1.4% advance. On a monthly basis, prices rose 0.6% vs. 0.4% expected. The BoC Core reading banged on estimates, rising 1.3% over the last twelve months.
USDCAD levels
Below the 1.1000, the pair would face supports at 1.0975 and 1.0960. On the upside, resistances are at 1.1015, 1.1030 and 1.1045.