USD/CAD climbs further to 5-day highs
FXStreet (Córdoba) – USD/CAD extended gains and reached fresh 5-day highs as the greenback continues to strengthen across the board and commodity currencies underperform.
The loonie failed to benefit from higher oil prices and reversed early gains versus the greenback ahead of Bank of Canada Governor Poloz speech before the Calgary Economic Development.
USD/CAD bounced from a low of of 1.3175 USD/CAD and climbed back above 1.3200 toward a high of 1.3256. At time of writing, the pair is trading at 1.3250, recording a 0.26% gain on the day, with the pair having already retraced the post-FOMC slump to 1.3011 USD/CAD .
USD/CAD levels to watch
On the upside, next resistances are seen at 1.3279 (Sep 14 high) and 1.3309 (Sep 11 high). On the downside, supports could be found at 1.3175 (Sep 21 low), 1.3123 USD/CAD (50-day SMA) and 1.3100 (psychological level).
USD/CAD extended gains and reached fresh 5-day highs as the greenback continues to strengthen across the board and commodity currencies underperform.
(Market News Provided by FXstreet)