- USD/CAD has made a strong recovery after finding support at 1.3047 on Friday
- Today the pair met headwind just shy of 1.3184 after extending north from 1.3120
- Tenkan line at 1.3037 provides solid support, while resistance on the upside is seen at 1.3180 (day’s highs)
- Canadian calendar being void of data releases, Fed’s Labour Market Conditions Index will be in focus, ahead of speeches by Fischer and Lockhart
- WTI trades slightly lower on the day around USD 43.75/barrel
Resistance Levels: R1: 1.3184 (Daily High Aug 7)R2: 1.3197 (Daily High Aug 6)R3: 1.3213 (2015 High Aug 5)Support Levels:S1: 1.3120 (Session Low Aug 10)S2: 1.3049 (Daily Low Aug 7)S3: 1.3037 (Tenkan-Sen)
The material has been provided by InstaForex Company – www.instaforex.com