FxWirePro: Renewed softer tone in crude weighs on CAD, USD/CAD hits session highs at 1.3290
USD/CAD opened Noram marts 1.3249 -7 pips vs previous close, overnight range was 1.3220/59 Crude oil prices fell as much as 2 percent on Tuesday, unwinding the previous day's steep rally, renewed softer tone in crude oil…
USD/CAD opened Noram marts 1.3249 -7 pips vs previous close, overnight range was 1.3220/59
Crude oil prices fell as much as 2 percent on Tuesday, unwinding the previous day's steep rally, renewed softer tone in crude oil prices weighing on CAD
USD/CAD also supported by a continuation of the recovery in the greenback ahead of today's US releases
The pair is currently trading at 1.3283, strong resistance is seen at 1.3310 (Daily Highs Sep 7/8/11), breaks above could see the pair at 1.3350 levels
Supports on the downside are located at 20 DMA by 1.3235 and further below at 1.3182 (Daily Kijun)
