USD/CAD Fails to Hold Above 1.2700

USD/CAD Fails to Hold Above 1.2700

25 April 2016, 14:59
Roberto Jacobs

USD/CAD Fails to Hold Above 1.2700

The Canadian dollar trades slightly weaker against the greenback as oil prices eased from 5-month highs during the European session.

USD/CAD rose briefly above 1.2700 and reached a daily high of 1.2716 before changing course and retracing most of its intraday gains. At time of writing, the pair is trading at 1.2670, still up 0.13% on the day.

USD/CAD levels to watch

As for technical levels, next resistances are seen at 1.2716 (Apr 25 high), 1.2757 (Apr 22 high) and 1.2798 (Apr 19 high). On the flip side, supports could be faced at 1.2621 (Apr 22 low), 1.2592 (2016 low, Apr 20) and 1.2562 (Jul 6 2015 low).


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