FXStreet (Edinburgh) – The greenback is surrendering gains vs. its Canadian counterpart on Thursday, sending USD/CAD to the lower bound of the range near the key support at 1.3200.
USD/CAD capped by 1.3300
The pair has been once again rejected in the vicinity of 1.3300 the figure during Asian trading hours, giving away almost a big-figure to briefly test the sub-1.3200 area in the European morning.
Following the somewhat upbeat statement by the BoC at its meeting on Wednesday, spot has managed to bounce off the mid-1.3100s ahead of US and CAD data.
USD/CAD levels to consider
At the moment the pair is losing 0.35% at 1.3212 with the next support at 1.3154 (low Sep.9) followed by 1.3116 (low Aug.31) and then 1.3156 (low Aug.21). On the upside, a break above 1.3290 (high Sep.10) would open the door to 1.3310 (high Sep.8) and finally 1.3327 (high Aug.31).
(Market News Provided by FXstreet)