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USD/CAD firmer, eyes on 1.1000

FXStreet (Edinburgh) - The greenback is once again pushing higher on Monday vs. its Canadian counterpart, lifting USD/CAD to the proximity of 1.1000 the figure.

USD/CAD attention to the US docket

It is a very light day in terms of data releases in the NA session, with only US Existing Home Sales expected to tick higher to 5.20M inter-month during August and the speeches by Fed’s William Dudley and Narayana Kocherlakota to follow next. “On the charts, 1.0980 appears as short-term resistance and the first barrier to be broken before targeting 1.10. On the downside, we spot support at 1.0920/30, although the daily chart still suggests the low 1.08 would be a firmer support base, as it is the area where May/June and August lows converge with retracement support”, noted Shaun Osborne, Chief FX Strategist at TD Securities.

USD/CAD key levels

At the moment the pair is up 0.29% at 1.0997 with the next hurdle at 1.1023 (high Sep.18) ahead of 1.1027 (low Sep.12) and then 1.1072 (high Sep.16). On the flip side, the immediate support lines up at 1.0926 (low Sep.22) ahead of 1.0900 (psychological level) and finally 1.0887 (low Sep.19).

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