The USD/CAD inched higher on Monday as stronger dollar across the board and fall in oil prices weighted on Canadian dollar. The price of U.S. crude was down 0.92 percent at $50.38 a barrel as Iraq said it wanted to be ex…
The USD/CAD inched higher on Monday as stronger dollar across the board and fall in oil prices weighted on Canadian dollar.
The price of U.S. crude was down 0.92 percent at $50.38 a barrel as Iraq said it wanted to be exempt from a deal by the Organization of the Petroleum Exporting Countries to cut production.
As long the pair trades above strong support zone located at 1.3281 levels, the ongoing bullish trend for the pair is set to continue in the short term.
The immediate support can be seen at 1.3341, break below this level will expose the pair to next support level at 1.3281.
Major resistance can be seen at 1.3400, break above this level will expose it towards 1.3471 levels.
