USD/CAD supported around 1.3250

By FXStreet FXStreet (Edinburgh) – The Canadian dollar remains on the right footing vs. its American counterpart on Thursday, with USD/CAD finding support around the mid-1.3200s.

USD/CAD looks to US docket, oil

Spot is losing ground for the second session in a row as the Canadian dollar keeps deriving support from a better tone around crude oil prices. Collaborating with the downside, the greenback is struggling to find direction today, extending the consolidative pattern across the board.

Moving forward, the critical ISM Manufacturing and Initial Claims are due in the US calendar, while the RBC Manufacturing PMI is due in Canada.

USD/CAD levels to consider

At the moment the pair is now losing 0.33% at 1.3270 and a break below 1.3250 (low Oct.1) would open the door to 1.3233 (low Sep.23) and finally 1.3219 (low Sep.22). On the upside, the initial hurdle lines up at 1.3334 (high Oct.1) ahead of 1.3412 (high Sep.30) and then1.3457 (high Sep.29).
For more information, read our latest forex news. …read more

Source:: FX Street