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15 Dec 2014
USD/CAD tests prices above 1.1600
FXStreet (San Francisco) - The US dollar is attempting to break above the 1.1600 level after a good set of data on US industrial production and capacity utilization for November. After jumping more than 25 pips from 1.1580, the USD/CAD broke above 1.1600 to trade at highs since July 2009 at 1.1605.
The US industrial production rose 1.3% in November, about the double expected and its largest increase since May 2010. Most important was the capacity used in this month as it rose above 80.0% for the first time since March 2008.
Currently, USD/CAD is trading at 1.1594, up 0.20% on the day, having posted a daily high at 1.1606 and low at 1.1547. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
USD/CAD levels
Above the 1.1600, the USD/CAD will find resistances at 1.1690 and 1.1700. To the downside, supports are now at 1.1580, 1.1550 and 1.1530.
The US industrial production rose 1.3% in November, about the double expected and its largest increase since May 2010. Most important was the capacity used in this month as it rose above 80.0% for the first time since March 2008.
Currently, USD/CAD is trading at 1.1594, up 0.20% on the day, having posted a daily high at 1.1606 and low at 1.1547. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish.
USD/CAD levels
Above the 1.1600, the USD/CAD will find resistances at 1.1690 and 1.1700. To the downside, supports are now at 1.1580, 1.1550 and 1.1530.