USD/CAD completes the 1.1000 trip, but it holds

FXStreet (San Francisco) - The USD/CAD fell around 70 pips from 1.1070 in the latest few hours to test the 1.1000 level where the pair found buying interest that launched the pair back to 1.1020.

CAD gained strength after Canadian Shipments published better than expected numbers in July, expanding at a monthly pace of 2.5% vs. 1.0% forecasted and up from June’s 0.9% gain.

Currently, USD/CAD is trading at 1.1022, down 0.29% on the day, having posted a daily high at 1.1073 and low at 1.0998. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.

USD/CAD levels

If the pair holds above the 1.1000, it will next resistances at 1.1035 and 1.1070. On the upside, supports are at 1.1000, 1.0970 and 1.0930.