USD/CAD climbs back towards 1.3400

USD/CAD managed to advance modestly on Monday despite the greenback staged a corrective pullback versus most competitors.

USD/CAD climbed to a daily high of 1.3389, ignoring higher oil prices, although it has lacked follow through to retest last week’s highs. USD/CAD is currently trading at the 1.3370 area, up 0.34% on the day and on track to post its fifth daily gain in a row.

USD/CAD technical levels

In terms of technical levels, next resistances could be found at 1.3400 (psychological level), 1.3417 (Dec 15 high) and 1.3437 (Dec 1 high). On the flip side, supports are seen at 1.3317 (Dec 16 low), 1.3267 (Dec 15 low) and 1.3237 (10-day SMA).