USD/CAD sidelined, testing 1.3200

By FXStreet FXStreet (Edinburgh) – The greenback keeps its daily advance vs. its Canadian neighbour on Thursday, with USD/CAD currently challenging the 1.3200 handle.

USD/CAD attention to US docket

The pair has gathered further traction following the hawkish tone from the FOMC meeting on Wednesday, managing to visit the 1.3280 area once again although running out of steam soon afterwards.

Second-tier releases in Canada today will leave the attention to the US docket, where the advanced Q3 GDP figures are due, seconded by Initial Claims, Pending Home Sales, PCE and the speech by Fed’s Lockhart.

USD/CAD levels to consider

As of writing, the pair is gaining 0.11% at 1.3205 facing the next hurdle at 1.3310 (23.6% Fibo of 1.3459-1.2827) ahead of 1.3400 (psychological handle) and then 1.3459 (high Sep.29). On the other hand, a breach of 1.3069 (61.8% Fibo of 1.3459-1.2827) would open the door to 1.3007 (100-day sma) and finally 1.2929 (5-month uptrend).
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Source:: FX Street