{"id":77104,"date":"2015-08-19T09:32:57","date_gmt":"2015-08-19T13:32:57","guid":{"rendered":"http:\/\/countingpips.com\/?p=77104"},"modified":"2015-08-19T10:52:59","modified_gmt":"2015-08-19T14:52:59","slug":"usdcad-us-dollar-eyeing-critical-break","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/08\/usdcad-us-dollar-eyeing-critical-break\/","title":{"rendered":"USDCAD \u2013 US Dollar Eyeing Critical Break"},"content":{"rendered":"<div id=\"inves-3471853575\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">August 19, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Bias: <strong>Bullish<\/strong><\/p>\n<p><strong>Key Points<\/strong><\/p>\n<ul>\n<li>US Dollar traded higher against the Canadian Dollar after finding bids around 1.3000-20.<\/li>\n<li>US Consumer Price Index released by the US Bureau of Labor Statistics registered a rise of 0.1% in July 2015, whereas the market was expecting it to be around 0.2%.<\/li>\n<li>In terms of the yearly change, the US CPI increased by 0.2%, just as the market expected.<\/li>\n<li>USDCAD is trading near a major bearish trend line as investors await for a break.<\/li>\n<\/ul>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p>The US Dollar enjoyed a decent run towards the upside against the Canadian Dollar. However, the USDCAD pair is facing a monster resistance in the form of a bearish trend line on the hourly chart. The pair has to clear the trend line if it has to trade higher moving ahead.<\/p>\n<p><a href=\"http:\/\/www.fxtimes.com\/wp-content\/uploads\/2015\/08\/USDCADH1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-200887\" src=\"http:\/\/www.fxtimes.com\/wp-content\/uploads\/2015\/08\/USDCADH1-1024x491.png\" alt=\"USDCAD\" width=\"640\" height=\"307\" \/><\/a><\/p>\n<p>The most important point is the fact that the 100 and 200 hourly simple moving averages are also around the same trend line to act as a barrier for buyers.<\/p>\n<p>On the downside, the 1.3060 level might serve as a support.<\/p><div id=\"inves-906620620\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p><strong>US CPI<\/strong><\/p>\n<p>Earlier during the NY session, the US Consumer Price Index, which is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services was released by the US Bureau of Labor Statistics. The forecast was lined up for a rise of 0.2% in July 2015, compared to the preceding month. However, the outcome was on the lower side, as the US Consumer Price Index rose 0.1%.<\/p>\n<p>In terms of the yearly change, the US CPI increased by 0.2% in July 2015, compared to the same month a year ago just as the market expected,<\/p>\n<p>The US core CPI i.e. the index for all items less food and energy also increased 0.1% in July, compared to the preceding month.<\/p>\n<p>Overall, the outcome was a bit disappointing, but might not hurt the US dollar to a great extent in the short term.<\/p>\n<p><strong>Trade Idea<\/strong><\/p>\n<p>We can attempt a buy trade if the USDCAD breaks the highlighted resistance area and settles above it.<br \/>\nBy\u00a0<a href=\"http:\/\/fxtimes.com\/\" target=\"_blank\">fxtimes.com<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Bias: Bullish Key Points US Dollar traded higher against the Canadian Dollar after finding bids around 1.3000-20. US Consumer Price Index released by the US Bureau of Labor Statistics registered a rise of 0.1% in July 2015, whereas the market was expecting it to be around 0.2%. In terms of the yearly change, the [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-77104","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=77104"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77104\/revisions"}],"predecessor-version":[{"id":77106,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77104\/revisions\/77106"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=77104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=77104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=77104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}