Forex: USD/CAD glued to 0.9860 as risk sharpens
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USD/CAD
FXstreet.com (Barcelona) - The cross is orbiting around 0.9860 on Thursday, on increasing risk-on mode. Hopes of further easing in the euro zone waned after the press conference by ECB's M.Draghi, boosting the preference for risk-associated assets.
In the data space, Canadian building permits contracted 17.9% on a monthly basis during November, while prices of new houses rose 0.1% MoM in the same period and 2.1% over the last twelve months.
USDCAD is now losing 0.16% at 0.9861
A dip below 0.9836 (low Jan.2) would bring 0.9832 (low Dec.18) and then 0.9825 (low Dec.13).
On the upside, resistance levels line up at 0.9890 (MA10d) ahead of 0.9893 (MA21d) and finally 0.9943 (high Jan.2).
In the data space, Canadian building permits contracted 17.9% on a monthly basis during November, while prices of new houses rose 0.1% MoM in the same period and 2.1% over the last twelve months.
USDCAD is now losing 0.16% at 0.9861
A dip below 0.9836 (low Jan.2) would bring 0.9832 (low Dec.18) and then 0.9825 (low Dec.13).
On the upside, resistance levels line up at 0.9890 (MA10d) ahead of 0.9893 (MA21d) and finally 0.9943 (high Jan.2).
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