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- USD/CAD is back below 1.30 handle, after hitting overnight peaks around 1.3010
- Currently the pair is trading at 1.2984, with immediate support at 1.2953 (Jul 20 low)
- A decisive break above 1.30 is required for further momentum, overall bias is bullish
- Break of 1.3012 (high Jul 21) could take the pair to 1.3025 (high Jul 20) and then 1.3065 (high Mar 2 2009)
- No major data releases from U.S. or Canada today, next of relevance will be US Markit's Services PMI and Existing Home Sales (Wed), Canada Retail Sales (Thur)
Resistance Levels:
R1: 1.3013 (Session High Jul 21)
R2: 1.3025 (2015 High Jul 20)
R3: 1.3066 (2009 High Mar 9)
Support Levels:
S1: 1.2953 (Daily Low Jul 20)
S2: 1.2946 (Daily Low Jul 17)
S3: 1.2900 (Psychological Level)
