FXStreet (Edinburgh) – The Canadian dollar is accelerating its decline vs. its American peer on Thursday, lifting USD/CAD to fresh cycle peaks in the 1.3400 neighbourhood.
USD/CAD firmer, oil reverts gains
The Canadian dollar continues to suffer the generalized bearish sentiment surrounding crude oil prices, retreating to levels last traded more than eleven years ago vs. USD near 1.3400 the figure.
Next of relevance in spot will be US Durable Goods Orders, New Home Sales and Initial Claims, all ahead of the speech by Janet Yellen.
USD/CAD levels to consider
The pair is now up 0.33% at 1.3364 with the next hurdle at 1.3386 (high Sep.24) followed by 1.3400 (psychological level). On the other hand, a breach of 1.3306 (low Sep.24) would aim for 1.3233 (low Sep.23) and finally 1.3216 (low Sep.22).
(Market News Provided by FXstreet)