“¢ A strong follow-through USD buying remains supportive of the positive momentum. “¢ A modest retracement in the US bond yields now seemed to cap additional gains. “¢ Weaker oil prices weigh on Loonie and might continue to help limit immediate downside. The USD/CAD pair held on to its mildly positive tone near fresh one-year highs, albeit seemed lacking any strong follow-through buying interest. The pair seemed largely unaffected by the ongoing US Dollar upsurge, with a modest retracement in the US Treasury bond yields failing to assist the pair to capitalize on its early up-move and capping any additional gains. Adding to this, near-term overbought conditions could also be one of the factors holding investors back from placing any fresh aggressive bullish bets and eventually led to a subdued/range-bound price action through the early European session. The downside, however, remained cushioned amid a weaker tone surrounding crude oil prices, which tends to dampen demand for the commodity-linked currency – Loonie and hence, any meaningful slide would now be looked upon as a buying opportunity. Traders now look forward to the release of second-tier US economic data – Philly Fed manufacturing index and the usual initial weekly jobless claims data in order to grab some short-term opportunities later during the early North-American session. Technical levels to watch Immediate resistance is pegged near the 1.3345-50 region, above which the pair is likely to aim towards reclaiming the 1.3400 handle with some intermediate hurdle near the 1.3370-75 zone. On the flip side, any meaningful retracement back below the 1.3300-1.3290 region is likely to find support near the 1.3265 area, which if broken might prompt some additional long-unwinding trade. 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 US Dollar clinches 2018 tops near 95.40 then retreats FX Street 5 years "¢ A strong follow-through USD buying remains supportive of the positive momentum. "¢ A modest retracement in the US bond yields now seemed to cap additional gains. "¢ Weaker oil prices weigh on Loonie and might continue to help limit immediate downside. The USD/CAD pair held on to its mildly positive tone near fresh one-year highs, albeit seemed lacking any strong follow-through buying interest. The pair seemed largely unaffected by the ongoing US Dollar upsurge, with a modest retracement in the US Treasury bond yields failing to assist the pair to capitalize on… 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.