USD/CAD Manages to Hold Above 1.2500
USD/CAD regained most of the lost ground as oil prices turned lower during the American session, pressuring the Canadian dollar.
USD/CAD
made a bearish attempt but it was contained by the 1.2510 area and
bounced toward 1.2560 - moving inversely with oil - before steadying in
a narrow range over the last hours. At time of writing, the pair is
trading at 1.2550, still 0.21% below its opening price.
USD/CAD technical levels
As
for technical levels, immediate supports are seen at 1.2497 (2016 low,
Apr 29), 1.2474 (Jul 1 2015 low) and 1.2413 (100-week SMA). On the flip
side, resistances line up at 1.2605 (Apr 28 high), 1.2623 (10-day SMA)
and 1.2685 (Apr 26 high).
