FXStreet (Córdoba) – USD/CAD managed to advance a few pips in quiet trading conditions on Monday, as the loonie weakened in sync with oil prices.
USD/CAD rose nearly half a cent from daily lows and reached a peak of 1.3294 before finding resistance and pulling back slightly. At time of writing, the pair is trading at 1.3280, still up 0.1% on the day.
With Canada and US markets closed in observance of the Labour Day, trading is expected to remain subdued until next Asian session.
USD/CAD key levels
As for technical levels, USD/CAD could find next resistances at 1.3294 (Sep 7 high), 1.3300 (psychological level) and 1.3323 (Sep 2 high). On the other hand, supports are seen at 1.3244 (Sep 7 low), 1.3165/61 (21-day SMA/Sep 4 low) and 1.3136 (Sep 3 low).
(Market News Provided by FXstreet)