21 Jul 2015
USD/CAD weaker around 1.2950
FXStreet (Edinburgh) - The greenback continues to shed ground vs. its Canadian neighbour on Tuesday, dragging USD/CAD to the 1.2955/50 band.
USD/CAD bounced off 1.2920
After bottoming out in the 1.2920 region, spot managed to stage a rebound and regain the mid-1.2900s, although the performance remain well into the negative territory.
The renewed offered tone around the US dollar plus some sort of recovery in crude oil prices – supporting the demand for CAD – remains the almost exclusive drivers behind yesterday’s fresh cycle peaks near 1.3030.
USD/CAD key levels
The pair is now retreating 0.51% at 1.2954 with the immediate support at 1.2905 (low Jul.16) ahead of 1.2728 (low Jul.15) and then 1.2683 (low Jul.13). On the other hand, a break above 1.3008 (high Jul.17) would target 1.3012 (high Jul.21) en route to 1.3024 (2015 high Jul.20).
USD/CAD bounced off 1.2920
After bottoming out in the 1.2920 region, spot managed to stage a rebound and regain the mid-1.2900s, although the performance remain well into the negative territory.
The renewed offered tone around the US dollar plus some sort of recovery in crude oil prices – supporting the demand for CAD – remains the almost exclusive drivers behind yesterday’s fresh cycle peaks near 1.3030.
USD/CAD key levels
The pair is now retreating 0.51% at 1.2954 with the immediate support at 1.2905 (low Jul.16) ahead of 1.2728 (low Jul.15) and then 1.2683 (low Jul.13). On the other hand, a break above 1.3008 (high Jul.17) would target 1.3012 (high Jul.21) en route to 1.3024 (2015 high Jul.20).