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USD/CAD advances slightly after US, Canadian data

FXstreet.com (Córdoba) – The USD/CAD pushed higher and printed a fresh daily high after the US GDP for the second quarter was upwardly revised to 2.5%.

USD/CAD rose to a 2-day high of 1.0515 but stronger-than-expected Canadian current account data stalled the rally. At time of writing, USD/CAD is trading at the 1.0505/10 area, where it records a 0.2% gain on the day.

USD/CAD supports and resistances

If USD/CAD breaks above 1.0515, next resistances line up at 1.0540 (Aug 27 high) and 1.0570 (Aug 23 high), while on the other hand, supports are seen at 1.0480 (daily low) and …read more