FxWirePro: USD/CAD maintains bullish outlook with focus on 1.3200 levels
The USD/CAD pair inched higher on Tuesday as the Canadian dollar lost ground against US dollar as investors betted that U.S. interest rates could rise by year-end and oil prices fell for a second day in a row. The curren…
The USD/CAD pair inched higher on Tuesday as the Canadian dollar lost ground against US dollar as investors betted that U.S. interest rates could rise by year-end and oil prices fell for a second day in a row.
The currency pair is trading around 1.3079 levels , speculation about a potential Federal Reserve interest rate hike and falling oil prices is set to strengthen the currency pair in the short term.
The immediate support can be seen at 1.3043, break below this level will expose the pair to next support level at 1.2994.
Major resistance can be seen at 1.3153, break above this level will expose it towards 1.3200 and beyond.
