Forex | Forex | Forex: USD/CAD tests 1.1540 after April Canadian GDP data (30/06/2009 12:57:00)

Forex: USD/CAD tests 1.1540 after April Canadian GDP data

FXstreet.com (Barcelona) - The Dollar's decline against the Canadian from 1.1601 yesterday's high has tested 1.1510 support in the last hours. Pullback from this level has driven the pair to test 1.1540 resistance after the Canadian GDP and IPP data. Currently the pair is trading around 1.1530/40, posting 0.22% daily losses from opening price action.

Canadian GDP has decline 0.1% between March and April, a data in line of expectations but better than 0.3% declines posted in previous month. Industrial Product Price drops 1.1% in May, worse than 0.6% decreases expected by market and 0.5% declines posted in April.
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