- USD/CAD loses traction around 1.3460 on Friday.
- The pair holds below the 50- and 100-hour EMAs; Relative Strength Index (RSI) stands in bearish territory below 50.
- The first resistance level is seen at 1.3480; 1.3455 acts as an initial support level.
The USD/CAD pair snaps its two-day winning streak and edges lower to 1.3460 during the Asian session on Friday. A rebound in oil prices underpins the commodity-linked Loonie as the country is the leading oil exporter to the United States. Market players await the monthly Canadian Retail Sales for July and the US S&P Global/CIPS PMI data due later on Friday’s North American session.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased