USD/CAD off highs post-data, near 1.3060

USD/CAD has abandoned the area of session highs near 1.3100 the figure, receding to the current 1.3070/65 band.

USD/CAD attention to data, oil

CAD has managed to bounce off earlier lows vs. its American neighbour following a recovery of crude oil prices, with the barrel of West Texas Intermediate trimming losses above the $45.00 mark.

Data wise in Canada, Housing Starts have surprised markets to the upside in June, coming in at 218.3K and thus collaborating with CAD’s recovery.

Back to the US, E.George’s speech is due later along with the Fed’s Labor Market Conditions Index.

USD/CAD significant levels

As of writing the pair is gaining 0.15% at 1.3062 facing the next up barrier at 1.3121 (high Jun.27) followed by 1.3191 (high May 24) and then 1.3312 (38.2% Fibo of the 2016 down move). On the flip side, a breach of 1.2994 (100-day sma) would aim for 1.2827 (low Jul.4) and finally 1.2674 (low Jun.23).