USD/CAD touching 1.0200 the figure

FXstreet.com (London) - USD/CAD defended 1.0200 the figure but struggles to break out of a 10 pip range.

USD/CAD Data

USD/CAD has some third tier data coming up at 12.30 GMT in the form of wholesales Sales (MoM) (Apr) expected at a modest 0.3% to mirror the previous month. However, the market will be reacting to FOMC a little later on this evening as well as Bank of Canada’s new Govener, Mr.Poloz who is talking tonight on the topic of “Recovery: Rebuilding Business Confidence in Canada.” Markets will be watching closely to see if he sticks to the same script that he did during his appearance before Parliament a couple of weeks ago, which was very much in line with Carney’s tone, according to Alvin Pontoh at TD Securities

USD/CAD applying the pressure

USD/CAD is applying more pressure as the day moves on having now moved some distance away from the key resistance at 1.2070. In the short term, the upside trend remains. The pair now struggle to inch higher above the EMA20 at 1.0215, oscillating around the pivot with EMA50 at 1.0202 still acting as support.