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20 Feb 2013
Forex: USD/CAD in fresh highs above 1.0180
The Canadian dollar is accelerating its negative momentum against its neighbour, after the hawkish tone from the FOMC minutes boosted the USD above 1.0180
According to the minutes, the US economic activity is expanding at a moderate pace and further easing would wake up undesired risks.
As of writing, the pair is up 0.66% at 1.0182 facing the next resistance at 1.0200 (psychological level) ahead of 1.0232 (high Jul.25) and then 1.0251 (high Jul.12).
On the flip side, a breakdown of 1.0101 (high Jan.25) would aim for 1.0055 (low Feb.18) and then 1.0052 (MA10d).
According to the minutes, the US economic activity is expanding at a moderate pace and further easing would wake up undesired risks.
As of writing, the pair is up 0.66% at 1.0182 facing the next resistance at 1.0200 (psychological level) ahead of 1.0232 (high Jul.25) and then 1.0251 (high Jul.12).
On the flip side, a breakdown of 1.0101 (high Jan.25) would aim for 1.0055 (low Feb.18) and then 1.0052 (MA10d).