The Canadian dollar is now appreciating further vs. its American neighbour, dragging USD/CAD back below the 1.3700 mark.
USD/CAD bid on oil recovery
CAD gained extra upside pressure following a pick up of crude oil prices, with the barrel of West Texas Intermediate now retaking the $32.00 mark during the European morning.
Next on tap will be US Durable Goods Orders and Initial Claims, while the speeches by Fed’s Lockhart and Williams will grab attention later in the NA session.
USD/CAD significant levels
As of writing the pair is down 0.14% at 1.3669 with the immediate support at 1.3635 (low Feb.4) ahead of 1.3643 (100-day sma) and finally 1.3263 (200-day sma). On the other hand, a breakout of 1.3835 (20-day sma) would expose 1.3979 (55-day sma) and then 1.4103 (high Feb.3).
