USD/CAD Clinches Highs Near 1.2740
The US dollar is posting moderate gains vs. its major rivals during the European morning, now sending USD/CAD to daily highs near 1.2740.
USD/CAD focus on oil, data
Spot
is advancing for the second straight session at the end of the week in
spite of the better tone surrounding crude oil prices, with the barrel
of WTI up over 1% and approaching the $44.00 mark, this usually being
CAD supportive.
However, the ongoing strong recovery of the greenback seems to be offsetting any CAD
bullish attempt, all ahead US advanced manufacturing PMI gauged by
Markit and the more relevant Canadian inflation figures and retail
sales.
USD/CAD significant levels
As of
writing the pair is up 0.02% at 1.2734 and a breakout of 1.2920 (20-day
sma) would open the door to 1.3219 (high Apr.5) and then 1.3275 (55-day
sma). On the flip side, the next support lines up at 1.2590 (2016 low
Apr.20) followed by 1.2124 (monthly low Jun.24 2015) and finally 1.1916
(monthly low May 14 2015).
