Forex: USD/CAD flat around 1.0200

FXstreet.com (Barcelona) - The Canadian dollar remains pretty much unchanged on Friday, hovering over the key mark at 1.0200 ahead of the Annualized US GDP during the first quarter.

David Song, Currency Analyst at DailyFX, commented that forecasts point to an annualized expansion of 3.0%, “…and the pickup in economic activity may encourage a greater number of Fed officials to adopt a more neutral to hawkish tone for monetary policy as the U.S. gets on a more sustainable path”.

The pair is now losing 0.02% at 1.0196 with the next support at 1.0181 (hourly lows Apr.26) ahead of 1.0165 (61.8% of 1.0084-1.0295) and finally 1.0084 (low Apr.11).
On the flip side, a breakout of 1.0243 (MA10d) would expose 1.0258 (high Apr.25) and then 1.0286 (high Apr.22).