FxWirePro: USD/CAD remains bullish as rally continues
The USD/CAD inched higher to hit one-week high on Tuesday, as fall in oil prices and growing concern about a potential British exit from the European Union weighed on the risk-sensitive commodity-linked currency. The ong…
The USD/CAD inched higher to hit one-week high on Tuesday, as fall in oil prices and growing concern about a potential British exit from the European Union weighed on the risk-sensitive commodity-linked currency.
The ongoing upside is set to continue as the support level at 1.2747 is set to hold the bears from falling further below and rebound back to higher side.
To the upside, the immediate resistance can be seen at 1.2871, a break above this level would take the pair towards next resistance level at 1.2950.
To the downside immediate support can be seen 1.2838, a break below this level will open the door towards next level at 1.2747.
