FxWirePro: USD/CAD finds support at 1.3290, bias is bullish
USD/CAD pair has rebounded to trade around 1.3370 levels after finding support at 1.3290 levels. The Canadian dollar is weaker across the board on the day against its U.S. counterpart despite US retail data printing slig…
USD/CAD pair has rebounded to trade around 1.3370 levels after finding support at 1.3290 levels. The Canadian dollar is weaker across the board on the day against its U.S. counterpart despite US retail data printing slightly better figures as the oil prices.declined from yesterday’s high.
Further decline for the pair is expected to be limited as the support level at 1.3290 is set to hold the bears from falling further below.
To the upside, the strong resistance can be seen at 1.3400, a break above this level would take the pair towards next resistance level at 1.3424.
To the downside immediate support can be seen 1.3334, a break below this level will open the door towards next level at 1.3290.
