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FxWirePro: USD/CAD edges lower from highs at 1.3180, strong support lies at 1.3036 (Daily Tenkan-Sen)

  • USD/CAD has made a strong recovery after finding support at 1.3047 on Friday

  • Today the pair met headwind just shy of 1.3184 after extending north from 1.3120

  • Tenkan line at 1.3037 provides solid support, while resistance on the upside is seen at 1.3180 (day's highs)

  • Canadian calendar being void of data releases, Fed's Labour Market Conditions Index will be in focus, ahead of speeches by Fischer and Lockhart

  • WTI trades slightly lower on the day around USD 43.75/barrel

Resistance Levels:    
    
R1: 1.3184 (Daily High Aug 7)

R2: 1.3197 (Daily High Aug 6)

R3: 1.3213 (2015 High Aug 5)

Support Levels:

S1: 1.3120 (Session Low Aug 10)

S2: 1.3049 (Daily Low Aug 7)

S3: 1.3037 (Tenkan-Sen)

  • Market Data
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