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Forex: USD/CAD falls to 1.0250/54 after Canadian CPI

FXstreet.com (Barcelona) - The USD/CAD fell off the 1.0260 handle during American trading Friday, on the heels of a mixed economic release out of Canada. In these moments the cross has fallen lower to 1.0250/54, down a modest -0.06%.

Mataf.net analysts calculate the means of supportive correction at 1.0232, ahead of 1.0207, and 1.0185. Conversely, a break above 1.0279 will initiate resistive measures at 1.0301 and 1.0326.

“The USD/CAD is extending the sideways trading with some negative pressure since trading opened today affected by the negativity shown on the stochastic. Generally, stability above 1.0185 forces us to extend our upside expectations targeting 10295 levels.” warns the ICN.com analyst team.

In Canada, the BOC Consumer Price Index Core (YoY) came in at +1.4% in March, beating consensus expectations of +0.2%. In addition, the Consumer Price Index (YoY) climbed +1.0% in March, exceeding the projected figure of +0.2%. Finally, the Consumer Price Index (MoM) grew +0.2% in March, matching estimates.

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