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USD/CAD firmer, advances through 1.3100

FXStreet (Edinburgh) - The greenback is trading on a firmer footing vs. its Canadian peer on Tuesday, lifting USD/CAD to fresh daily highs beyond the 1.3100 handle.

USD/CAD focus on US, CAD data

Today’s daily upside is helping the pair to revert fourth straight sessions of losses, managing to bounce off yesterday’s lows in the mid-1.3000s ahead of key data in both US and Canada.

In fact, US and Canadian trade balance figures are due later in the NA session, seconded by FOMC’s Williams’s speech, the API’s weekly report on stockpiles and Ivey’s PMI.

USD/CAD levels to consider

As of writing, the pair is advancing 0.20% at 1.3112 with the next resistance at 1.3155 (55-d ema) followed by 1.3200 (psychological level) and finally 1.3457 (11-year high Sep.29). On the flip side, a breakdown of 1.3061 (low Oct.6) would open the door to 1.2997 (100-d ema) and then 1.2952 (low Aug.12).

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