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3 Aug 2015
USD/CAD extends further above 1.3100
FXStreet (Edinburgh) - The Canadian dollar continues to depreciate vs. its American counterpart on Monday, with USD/CAD in fresh cycle highs around 1.3160/65.
USD/CAD stronger oil, US data eyed
The increasing weakness around crude oil prices keeps weighing on CAD today, boosting spot well above the 1.3100 handle and printing fresh multi-year peaks at the same time.
Ahead in the session, the current upside in the pair will be put to the test as PCE, ISM Manufacturing and Personal Spending/Income are all due in the US calendar.
USD/CAD relevant levels
At the moment the pair is advancing 0.59% at 1.3168 with the next resistance at 1.3200 (psychological level). On the downside, a break below 1.2940 (low Jul.31) would open the door to 1.2861 (low Jul.29) and finally 1.2728 (low Jul.15).
USD/CAD stronger oil, US data eyed
The increasing weakness around crude oil prices keeps weighing on CAD today, boosting spot well above the 1.3100 handle and printing fresh multi-year peaks at the same time.
Ahead in the session, the current upside in the pair will be put to the test as PCE, ISM Manufacturing and Personal Spending/Income are all due in the US calendar.
USD/CAD relevant levels
At the moment the pair is advancing 0.59% at 1.3168 with the next resistance at 1.3200 (psychological level). On the downside, a break below 1.2940 (low Jul.31) would open the door to 1.2861 (low Jul.29) and finally 1.2728 (low Jul.15).