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USD/CAD consolidates below 1.0900

FXStreet (Córdoba) - The USD/CAD trades a touch softer Monday still capped below 1.0900, with the latest series of domestic data having no impact on the loonie.

Data showed foreign investors reduced their holdings of Canadian securities by CAD 1.07 billion in June, led by the largest selloff on record of Canadian government bonds.

The USD/CAD barely reacted to data but moved slightly higher within its 20-pip daily range. At time of writing, the USD/CAD is trading at 1.0885, down 0.11% on the day.

USD/CAD levels to watch

As for technical levels, the USD/CAD could find immediate supports at 1.0874 (20-day SMA), 1.0864/67 (200-day SMA/100-day SMA) and 1.0848 (Jul 30 low). On the other hand, resistances are seen at 1.0920 (10-day SMA), 1.0939 (Aug 13 high) and 1.0952 (Aug 12 high).

Canada Canadian portfolio investment in foreign securities dipped from previous $2.03B to $1.96B in June

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