FXstreet (Edinburgh) - The greenback continues to appreciate vs. its Canadian counterpart on Wednesday, pushing the USD / CAD to session peaks near 1.2770.
USD / CAD focus on the BoC
After finding support in the 1.2720 level overnight, the pair has sparked a correction higher to the 1.2760 region ahead of the key central bank monetary policy meeting. Recall that market of participants has been anticipating a potential rate cut by the central bank today, mainly after the recent disappointing figures in the Canadian GDP.
The pair will Tus REMAIN under pressure in light of the BoC decision and the subsequent presser by Governor S.Poloz. In the US, Chair Yellen's Semi-Annual Testimony at Capitol Hill will be the main highlight this evening.
USD / CAD key levels
At the moment the pair is up 0:28% at 1.2765 with the next hurdle at 1.2809 (high Jul.14) ahead of 1.2835 (high Mar.18 2015) and then 1.2900 (psychological level). On the downside, a break below 1.2722 (low Jul.150 would expose 1.2716 (low Jul.14) and finally 1.2680 (low Jul.13).
USD / DCA 2015-07-15T10: 00: 00
1.27657 / 1.27666 (-0.026632827309%)
H1.2768 L1.27575
S3 S2 S1 R1 R2 R3
1.2725766102472 1.2735132773717 1.2746266523996 1.2766766945521 1.2776133616765 1.2787267367045
Trend Index OB / OS Index
Bullish Neutral
