WTI rebounds to $41 mark, knocks-off USD/CAD. US dollar bleeds in the NA session as risk-on mood persists. The spot risks a break below the 1.3500 level. Broad-based US dollar weakness combined with the WTI rebound has wreaked havoc for USD/CAD, as it meanders near two-day lows of 1.3520, down 0.55% on a daily basis. The US oil reversed a temporary dip induced by an unexpected build in the EIA crude stockpiles and briefly regained $41. The rebound in WTI put a fresh bid under the resource-linked Canadian dollar. Meanwhile, the selling interest around the US dollar remains unabated, with the pain further exacerbated by the renewed uptick in the S&P 500 index. Markets dismissed the mixed US coronavirus stats, as they still weigh the odds of an economic recovery. In the absence of relevant macro-economic news, the broad market sentiment and the dollar flows will continue to direct the near-term direction in the CAD pair. USD/CAD technical levels “The 200-day SMA level of 1.3500 holds the key to the pair’s south-run towards 1.3430,” explains FXStreet’s Analyst Anil Panchal notes. Meanwhile, any recovery attempt could face initial resistance at 5-DMA of 1.3556. USD/CAD additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next S&P 500 Index: The price is wrestling with the very important 3,158.24 technical level FX Street 3 years WTI rebounds to $41 mark, knocks-off USD/CAD. US dollar bleeds in the NA session as risk-on mood persists. The spot risks a break below the 1.3500 level. Broad-based US dollar weakness combined with the WTI rebound has wreaked havoc for USD/CAD, as it meanders near two-day lows of 1.3520, down 0.55% on a daily basis. The US oil reversed a temporary dip induced by an unexpected build in the EIA crude stockpiles and briefly regained $41. The rebound in WTI put a fresh bid under the resource-linked Canadian dollar. Meanwhile, the selling interest around the US dollar remains unabated, with… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
