“¢ Resurgent USD demand helps gains some positive traction on Thursday. “¢ Subdued oil prices do little to influence demand for commodity-linked Loonie. The USD/CAD pair caught some fresh bids on Thursday and moved away from over 1-1/2 month lows touched in the previous session. The pair has been finding decent support near 100-day SMA, with resurgent US Dollar demand helping to gain some positive traction on Thursday and continue climbing beyond the key 1.30 psychological mark. The greenback caught some fresh bid and was being supported by the Fed’s upbeat assessment of the US economy, reaffirming gradual rate hike path. Meanwhile, a subdued action around crude oil priced did little to influence demand for the commodity-linked currency – Loonie, with the USD price dynamics turning out to be an exclusive driver of the pair’s momentum through the early European session. It would now be interesting to see if the pair is able to build on the positive momentum or once again meets with some fresh supply at higher levels amid relatively thin US economic docket, highlighting the release of usual initial weekly jobless claims and factory orders data. Technical levels to watch Immediate resistance is pegged near 1.3040 area, above which the pair is likely to make a fresh attempt towards reclaiming the 1.3100 handle. On the flip side, the 1.2985 region (100-day SMA) might continue to protect the immediate downside, which if broken might accelerate the slide further towards 1.2925-20 support area en-route the 1.2900 round figure mark. 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 EOS price analysis: EOS recovers from the recent dip, but upside currently capped by the 100 SMA FX Street 5 years "¢ Resurgent USD demand helps gains some positive traction on Thursday. "¢ Subdued oil prices do little to influence demand for commodity-linked Loonie. The USD/CAD pair caught some fresh bids on Thursday and moved away from over 1-1/2 month lows touched in the previous session. The pair has been finding decent support near 100-day SMA, with resurgent US Dollar demand helping to gain some positive traction on Thursday and continue climbing beyond the key 1.30 psychological mark. The greenback caught some fresh bid and was being supported by the Fed's upbeat assessment of the US… 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.
