USD/CAD struggles to hold above 1.3900

FXStreet (Córdoba) – USD/CAD pushed to fresh daily highs as the Canadian dollar weakened further in sync with oil prices following US crude inventories data, although the pair failed to hold at highs and pulled back afterwards.

USD/CAD made another upside attempt but failed to hold above the 1.3900 level for long and turned lower after peaking at 1.3926. At time of writing, the pair is trading at 1.3887, still up 0.32% on the day.

USD/CAD technical levels

In terms of technical levels, immediate resistances line up at 1.3939 (Dec 29 high) and 1.3993/1.4000 (Dec 22 & 18 highs/psychological level). On the flip side, supports are seen at 1.3811 (Dec 28 low), 1.3777 (Dec 17 low) and 1.3720 (20-day SMA).

USD/CAD pushed to fresh daily highs as the Canadian dollar weakened further in sync with oil prices following US crude inventories data, although the pair failed to hold at highs and pulled back afterwards.

(Market News Provided by FXstreet)