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).
