The Canadian dollar erased its early losses against its major counterparts in early European deals on Tuesday, amid a rebound in oil prices.
Crude for October delivery rose $0.74 to $38.98 a barrel.
The loonie, which fell to a multi-year low of 1.3300 against the greenback in early deals, reversed direction with the pair trading at 1.3215.
The loonie rebounded to 90.67 against the yen, 0.9496 against the aussie and 1.5227 against the euro, from its early lows of 89.00, 0.9590 and 1.5448, respectively.
The next possible resistance for the loonie may be located around 92.00 against the yen, 1.30 against the greenback, 0.936 against the aussie and 1.51 against the euro.
The material has been provided by InstaForex Company – www.instaforex.com