FXStreet – The currency pair USD/CAD is once again on Wednesday, under pressure. In early European trading, it jumped to a daily high at 1,3640 – but then it went straight down.
The currency pair could not continue its recovery from yesterday, late in the American business and put a little surprisingly, in the last few minutes in reverse. This is due to a Combination of a weak greenback and rising Oil prices that support the canadian Dollar since the turn of the year highs in early may, like yesterday.
The barrel of the US variety of West Texas Intermediate (WTI) remains in bull mode, even though it had withdrawn last-back from the highs on the brand of 49.00 USD, while the investors now await the weekly inventory data from the US energy administration (EIA).
In addition, the US yields go in the descent, which reduced the Spread between canadian and U.S. yields and the top limited.
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The Few listed last on 1,3583 and to 0.15 percent in the Minus. The next supports lie at 1,3579 (Deep 17. May), 1,3575 (Fibo 23.6%) and 1,3528 (Deep 25. April). Technical Resistances are at 1,3743 (12. May), 1,3772 (High 11. May) and 1,3795 (High-05. To find may 2017).
** FXStreet News Editorial, FXStreet**