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USD/CAD bounces off 1.1230; back to 1.1265

FXStreet (San Francisco) - The US dollar's decline from 1.1315 against its Canadian counterpart found buying interest at 1.1230 where the pair bounced to move back at 1.1265.

The rebound could be attributed to the lack of agreement to cut oil production in the mini OPEC meeting. Russia, Saudi Arabia, Mexico, and Venezuela said that countries agreed to "monitor" oil prices and will meet regularly to discuss the energy market. However, no agreement on any output cut.

Currently, USD/CAD is trading at 1.1259, down -0.25% on the day, having posted a daily high at 1.1318 and low at 1.1230. The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish.

USD/CAD levels

If the USD/CAD continues with its recovery above 1.1250, it will find next resistances at 1.1265 and 1.1300. To the downside, supports are at 1.1230, 1.1220 and 1.1190.

EUR/GBP steady above 0.7900

The euro is rising modestly against the pound on Tuesday, posting the second daily gain in a row, but still remains a hundred pips below last week high, when it climbed to 0.8038 (Nov 19 high) before dropping to 0.7902.
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