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USD/CAD rises above 1.26

FXStreet (Mumbai) - The USD/CAD pair rose above 1.26 levels to trade above the previous session’s high of 1.2611.

USD/CAD: Gains for fourth consecutive session

The bid tone on the US dollar persisted throughout the week as the markets remain convinced that the Fed would raise rates in 2015. Meanwhile, weakness in the Crude prices weakened CAD. WTI Crude prices weakened from a high of USD 54.13/barrel to trade at USD 50.66/barrel today.

The pair appears poised to end the week higher, as we do not have first tier data releases in the US, that could turn around the situation and result in major USD weakness.

USD/CAD Technical Levels

The immediate resistance is seen at 1.2662, above which gains could be 1.27 levels. On the flip side, a break below 1.2575 could drive the pair lower to 1.2542 (hourly 50-MA).

India eases rules for foreign investment in government debt

The Securities and Exchange Board of India (SEBI), the country's market regulator, has allowed foreign investors to reinvest in government bonds the same day, as reported by Reuters on Thursday.
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Trading USD consolidation, Buy NZD/JPY – SG

Alvin Tan of Societe Generale, explains that with USD set to consolidate and New Zealand’s economy on a growing track, NZD/JPY remains the best trade into the dollar consolidation, suggesting going long on the pair, targeting 94.00 levels.
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