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20 May 2015
FOMC minutes reaction: USD/CAD bounces off 1.2165
FXStreet (Cocoa) - The US Dollar is reacting mixed following the FOMC minutes release that said Fed hike in June is unlikely. Against the Canadian Dollar, the USD bounced off 1.2165 and it's now trading above 1.2200.
FOMC Minutes said that FOMC members see a rate hike unlikely in June. They also expect that a moderate growth will resume in the Q2.
Currently, USD/CAD is trading at 1.2187, it remains down 0.38% on the day, having posted a daily high at 1.2258 and low at 1.2169. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
USD/CAD levels
If the pair consolidates levels above 1.2200, it will find resistances at 1.2220, 1.2250 and 1.2260. To the downside, if the pair extends declines below 1.2165, supports are at 1.2130 and 1.2100.
FOMC Minutes said that FOMC members see a rate hike unlikely in June. They also expect that a moderate growth will resume in the Q2.
Currently, USD/CAD is trading at 1.2187, it remains down 0.38% on the day, having posted a daily high at 1.2258 and low at 1.2169. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
USD/CAD levels
If the pair consolidates levels above 1.2200, it will find resistances at 1.2220, 1.2250 and 1.2260. To the downside, if the pair extends declines below 1.2165, supports are at 1.2130 and 1.2100.