FXStreet (Edinburgh) – After reaching session highs near 1.3290, USD/CAD lost some upside momentum and has returned to the 1.3270 area.
USD/CAD focus on oil, US data
A better tone in crude oil prices is lending some support to CAD so far, while upcoming second-tier releases in the US docket seem far from having a significant impact on the greenback ahead of the Veterans Day holiday due tomorrow.
In the meantime, spot is retreating for the second consecutive session after being rejected from post-Payrolls tops in the 1.3320 region.
USD/CAD levels to consider
As of writing, the pair is retreating 0.03% at 1.3275 facing the next support at 1.3176 (55-day sma) followed by 1.3069 (61.8% Fibo of 1.3459-1.2827) and finally 1.2983 (5-month uptrend). On the other hand, a surpass of 1.3317 (high Nov.6) would open the door to 1.3355 (high Aug.25) and then 1.3458 (high Sep.29).
(Market News Provided by FXstreet)