FxWirePro: USD/CAD maintains bullish bias with focus on 1.2900 levels
The USD/CAD inched higher on Monday, surging up to 1.2827 in the early American session, following slump in oil prices, weighed down by gloomy economic prospects in Europe and Asia and a related strengthening in the U.S.…
The USD/CAD inched higher on Monday, surging up to 1.2827 in the early American session, following slump in oil prices, weighed down by gloomy economic prospects in Europe and Asia and a related strengthening in the U.S. dollar.
The ongoing upside is set to continue as the support level at 1.2658 is set to hold the bears from falling further below and rebound back to higher side.
To the upside, the immediate resistance can be seen at 1.2838, a break above this level would take the pair towards next resistance level at 1.2883.
To the downside immediate support can be seen 1.2747, a break below this level will open the door towards next level at 1.2700.
