USD/CAD rises further, approaches 1.3400

By FXStreet FXStreet (Córdoba) – USD/CAD extended gains during the American session and recently printed a fresh daily high at 1.3391. It was trading at 1.3380/84, about to post the strongest daily close in more than 10 years.

The decline in equities worldwide and in crude oil prices boosted the pair. European markets finished sharply lower while in the US, main stocks indexes are falling more than 1.50%. The WTI barrel is falling 2.50%, trading at $44.50.

The pair continues to move with an upside bias and is approaching mutli-year highs that lie at 1.3417. Out of the last eight trading days it rose on seven.

USD/CAD technical levels

To the upside, resistance levels could be located at 1.3400, 1.3415 (Sept 24 high) and 1.3455. On the opposite direction, support might lie at 1.3355, 1.3315 (daily low) and 1.3285 (Sept 24 low).
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Source:: FX Street