FxWirePro: USD/CAD maintains bullish bias with focus on 1.3000 levels
The USD/CAD pair inched higher on Thursday as solid U.S. data and lower oil prices supported dollar bulls ahead of global central bankers' gathering in Jackson Hole. Investors await clues from Jackson Hole on the U.S. in…
The USD/CAD pair inched higher on Thursday as solid U.S. data and lower oil prices supported dollar bulls ahead of global central bankers' gathering in Jackson Hole.
Investors await clues from Jackson Hole on the U.S. interest rate outlook, with the focus on Friday's keynote speech by Federal Reserve Chair Janet Yellen.
As long the pair trades above strong support zone located at 1.2866 levels, the ongoing bullish trend for the pair is set to continue in the short term.
The currency pair is trading around 1.2933 levels, it is expected to reach 1.2960 levels and 1.3000 levels in the short term.
The immediate support can be seen at 1.2905, break below this level will expose the pair to next support level at 1.2866.
Major resistance can be seen at 1.2972, break above this level will expose it towards 1.3020 levels.
