USD/CAD retraces from highs and finds support at 1.0725

FXStreet (San Francisco) - The USD/CAD extended gains overnight to trade at 3-week highs around 1.0745 as the Loonie continues to suffer amid disappointing unemployment data released Friday. However, the USD/CAD traded retraced from highs to price around 1.0725, where the pair found buying interest.

Currently, USD/CAD is trading at 1.0733, down 0.00% on the day, having posted a daily high at 1.0749 and low at 1.0720. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish.

USD/CAD levels

If the pair holds the 1.0725 area, it would face resistances around 1.0740 and 1.0750. On the downside, supports are at 1.0720, 1.0700 and 1.0690.