USD/CAD sidelined near 1.3330, US data eyed

By FXStreet FXStreet (Edinburgh) – The Canadian dollar alternates gains with losses vs. its American neighbour at the beginning of the week, with USD/CAD hovering over 1.3330/35.

USD/CAD attention to US calendar

The pair remains within the daily range above the 1.3300 key handle on Monday, in an apparent consolidative pattern following the correction lower from recent fresh 11-year peaks beyond the 1.3400 mark.

In the meantime, the pair will remain under pressure in light of the upcoming string of US data releases: Personal Income/Spending, PCE, Pending Home Sales and the Dallas Fed manufacturing index; all against the backdrop of speeches by Fed’s Tarullo, Evans, Williams and Dudley.

USD/CAD levels to consider

The pair is now losing 0.01% at 1.3335 and a breach of 1.3303 (low Sep.25) would aim for 1.3233 (low Sep.23) and finally 1.3216 (low Sep.22). On the other hand, the initial resistance lines up at 1.3356 (high Sep.25) followed by 1.3418 (high Sep.24) and then 1.3495 (high Jun.29 2004).
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Source:: FX Street