The USDCAD is buying and selling to a new session alone within the course of is testing a swing space between 1.3494 and 1.35039. Below that’s the September 1 low at 1.34889. Get beneath these ranges and merchants will begin to take into consideration the 200 day shifting common down at 1.3464 (inexperienced over late line on the hourly chart above).
Close threat might be 1.35039. More conservative threat will in all probability be across the low worth from yesterday’s commerce at 1.35202.
Helping the upside is increased oil costs. The worth of crude oil is again above the $90 stage at $90.12. When the worth of oil goes up that tends to assist the Canadian greenback (decrease USDCAD).