- Loonie was offered some respite after oil prices rebounded sharply today, pushing USD/CAD lower
- USD/CAD eased off from 11-yr highs by 1.3176 today, is currently trading at 1.3117, day's range 1.3176/1.3104
- Stochs show bearish crossover at overbought levels, RSI at overbought some unwinding in the near term likely
- Bullish alignment of the tenkan & kijun lines highlights scope for more gains
- Markets await upcoming US macro releases including the US factory orders data due to be reported later in the day for further direction
R3: 1.3279 (30-Day Upper Bollinger)
R2: 1.3200 (Psychological Level)
R1: 1.3176 (2015 High Aug 4)
Support Levels:
S1: 1.3106 (Session Low Aug 4)
S2: 1.3081 (Daily Low Aug 3)
S3: 1.3018 (Tenkan-Sen)
