USD/CAD Keeps Highs Near 1.2700
The greenback remains on a firm footing vs. its Canadian counterpart on Thursday, now sending USD/CAD to the boundaries of 1.2700 the figure, session peaks.
USD/CAD higher on oil drop
The
Canadian dollar has lost its initial shine after the barrel of WTI has
left the area of 2016 highs near $44.50 and slipped back towards the
$43.00 key support.
Additional support for the pair’s upside has
come after the strong rebound of the US dollar, which managed to shrug
off poor results from the Philly Fed manufacturing survey while Initial
Claims have bettered consensus.
USD/CAD significant levels
As
of writing the pair is up 0.24% at 1.2686 facing the next up barrier at
1.2942 (20-day sma) followed by 1.3090 (23.6% Fibo of 1.4690-1.2594)
and then 1.3219 (high Apr.5). On the flip side, a breakdown of 1.2594
(2016 low Apr.20) would aim for 1.2124 (monthly low Jun.24 2015) and
finally 1.1916 (low May 14 2015).