FxWirePro: USD/CAD maintains bullish outlook with focus on 1.3350 levels
The USD/CAD pair continued to gain from Friday’s close, as the Canadian dollar lost further ground against US dollar on Monday. Oil prices declined to hit 2 1/2 month lows on Monday amid worries that a global glut of cru…
The USD/CAD pair continued to gain from Friday’s close, as the Canadian dollar lost further ground against US dollar on Monday.
Oil prices declined to hit 2 1/2 month lows on Monday amid worries that a global glut of crude and refined products would weigh on markets for some time.
The currency pair is trading around 1.3227 levels, it is expected to reach 1.3300 levels and 1.3350 levels in the short term.
The immediate support can be seen at 1.3182, break below this level will expose the pair to next support level at 1.3106.
Major resistance can be seen at 1.3258, break above this level will expose the pair towards next resistance level at 1.3300.
