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USD/CAD weaker, around 1.1240

FXStreet (Edinburgh) - The greenback continues to trade on a softer tone vs. its neighbour on Thursday, now sending USD/CAD to test the lower bound of the range around 1.1240.

USD/CAD down from 1.1290

The pair managed to pick up pace from the 1.1240 region in early trade, however the bull attempt run out of legs in the proximity of 1.1290 adding to the recent unsuccessful attempts to break above the 1.1300 handle. Nothing in the US economy data wise, whereas Canadian Current Account showed a deficit of $8.40 billion during the third quarter, better than the $11.1 billion forecasted and lower than the previous $9.91 billion. In another front, the OPEC meeting in Vienna continues to be the main event today against a backdrop of decreasing crude oil prices (WTI around $72.60/bbl at the moment).

USD/CAD relevant levels

As of writing the pair is now up 0.07% at 1.1243 with the next support at n1.1228 (low Nov.26) followed by 1.1225 (low Nov.24) and then 1.1206 (daily cloud top). On the upside, a surpass of 1.1280 (Tenkan Sen) would aim for 1.1298 (high Nov.26) and finally 1.1316 (high Nov.25).

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