USD/CAD rate hikes limited 1.0200

FXstreet.com (Edinburgh) - USD/CAD seems to recover some ground after rebounding from 1.0180 area although upside attempts have not been able to overcome the barrier around 1.0200 so far.

USD/CAD seeks to break the consolidation

The pair has revolved around 1.0200 since the beginning of June, in search of a catalyst which allows to break that pattern in any direction. "Momentum of trend indicators do not help in any direction readings in the short and medium term are neutral. That should help limit losses on the one hand but earnings would hamper on the other - unless the pair can progress beyond 1.0250/80 ", have commented strategists S.Osborne and G.Moore at TD Securities.

USD/CAD levels to take into account

At the time of writing, the pair lost 0.17% in 1.0196 following support waiting for you at 1.0177 (MA200h) followed by 1.0150 (min. jun.17) and finally 1.0137 (min. jun.14). On the other hand, break above 1.0239 (max. jun.19) would clear the way towards 1.0245 (38.2% of 1.0421-1.0137) and then 1.0288 (max. jun.7).

* FXstreet.es, news of currency *