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USD/CAD in fresh cycle highs near 1.3400

FXStreet (Edinburgh) - The Canadian dollar is accelerating its decline vs. its American peer on Thursday, lifting USD/CAD to fresh cycle peaks in the 1.3400 neighbourhood.

USD/CAD firmer, oil reverts gains

The Canadian dollar continues to suffer the generalized bearish sentiment surrounding crude oil prices, retreating to levels last traded more than eleven years ago vs. USD near 1.3400 the figure.

Next of relevance in spot will be US Durable Goods Orders, New Home Sales and Initial Claims, all ahead of the speech by Janet Yellen.

USD/CAD levels to consider

The pair is now up 0.33% at 1.3364 with the next hurdle at 1.3386 (high Sep.24) followed by 1.3400 (psychological level). On the other hand, a breach of 1.3306 (low Sep.24) would aim for 1.3233 (low Sep.23) and finally 1.3216 (low Sep.22).

USD/JPY drops to key fib support on risk aversion

The bid tone on the safe haven Yen gained traction, pushing the USD/JPY lower to 119.60 (38.2% of 125.28-116.08) after the European stocks fell back into the red and extended losses.
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Research Team at BBH, note that demand cooled off considerably when today the ECB launched its fifth tranche of TLTRO.
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