The USD/CAD pair declined on Tuesday as the Canadian dollar gained strength as oil rose and the greenback lost some ground amid political and economic uncertainty in the United States. Investors assessed President Donald…
The USD/CAD pair declined on Tuesday as the Canadian dollar gained strength as oil rose and the greenback lost some ground amid political and economic uncertainty in the United States.
Investors assessed President Donald Trump's first major policy stumble, while awaiting comments from several Federal Reserve policymakers including Fed Chair Janet Yellen.
Oil prices rose on Tuesday as supply disruption in Libya and the latest comments from officials suggesting OPEC could extend its deal cutting global production.
The ongoing weakness is set to continue for this pair as the resistance level at 1.3453 is likely to act as strong barrier to the bulls and bring a further decline towards lower levels.
The immediate support can be seen at 1.3361, break below this level will expose the pair to next support level at 1.3000.
Immediate resistance can be seen at 1.3407, break above this level will expose it towards 1.3453 levels.
