USD/CAD turns positive near 1.3270

By FXStreet FXStreet (Edinburgh) – The greenback keeps trimming its losses vs. its Canadian peer on Tuesday, pushing USD/CAD to session tops near 1.3270.

USD/CAD supported around 1.3230

After bottoming out in the 1.3230 area in early trade, spot has managed to pick up pace and retake the positive territory near 1.3270 in a context still favourable to the US dollar in spite of the poor results from the US docket today.

Despite US CPI and the FOMC meeting will be the salient events for the pair this week, inflation figures in Canada are also poised to bring in bouts of volatility. Consensus expects consumer prices to have risen at an annual pace of 1.3% during August, while the Core print is expected at 2.1% YoY (down from 2.4%).

USD/CAD levels to consider

At the moment the pair is gaining 0.03% at 1.3269 and a break above 1.3290 (high Sep.10) would open the door to 1.3310 (high Sep.8) and finally 1.3327 (high Aug.31). On the other hand, the next support aligns at 1.3226 (low Sep.14) ahead of 1.3154 (low Sep.9) and then 1.3116 (low Aug.31).
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Source:: FX Street