FXStreet (Edinburgh) – The Canadian dollar is depreciating further vs. its American counterpart on Tuesday, pushing USD/CAD to the boundaries of the 1.3200 handle.
USD/CAD focus on US data
The pair is trading at shouting distance from 4-week tops at 1.3200 the figure today, while a renewed weakness around crude oil prices keep the weighing on the Canadian dollar and thus collaborating with the recent upside.
Ahead in the session, empty docket in Canada will leave spot to the mercy of the US calendar, where Durable Goods Orders and Consumer Confidence will take centre stage.
USD/CAD levels to consider
As of writing, the pair is advancing 0.30% at 1.3192 with the next hurdle at 1.3217 (38.2% Fibo of 1.3459-1.2827) ahead of 1.3310 (23.6% Fibo of 1.3459-1.2827) and then 1.3459 (high Sep.29). On the other hand, a breakdown of 1.3069 (61.8% Fibo of 1.3459-1.2827) would open the door to 1.3000 (psychological level) and finally 1.2988 (100-day sma).
(Market News Provided by FXstreet)