FxWirePro: USD/CAD maintains bullish bias with focus on 1.3100 levels
The USD/CAD pair rose in the US session hitting as high as 1.2992 after oil prices declined towards $44.51 per barrel and US dollar strengthened across the board. Oil prices declined on Monday surrendering gains made aft…
The USD/CAD pair rose in the US session hitting as high as 1.2992 after oil prices declined towards $44.51 per barrel and US dollar strengthened across the board.
Oil prices declined on Monday surrendering gains made after Canada’s wild fire knocked over million barrels in daily production capacity, as caution among investors prevented oil price rise.
The currency pair is trading around 1.2977 levels and it is set to advance further towards 1.3040 and 1.3090 in the short term.
To the upside, the strong resistance can be seen at 1.3020, a break above will take the pair towards next resistance level at 1.3096.
To the downside immediate support can be seen at 1.2959 levels, a break below will open the door towards next level at 1.2900.
