USD/CAD regains positive traction on Tuesday and rebounds from monthly lows. Weaker oil undermined the loonie; stronger USD provided an additional boost. Investors now eye second-tier US/Canadian macro data for some trading impetus. The USD/CAD pair maintained its bid tone through the early European session and is currently placed near the top end of its daily trading range, just above mid-1.3200s. A combination of supporting factors helped the pair to catch some fresh bids on Tuesday and snap two consecutive days of losing streak. The pair staged a goodish rebound from the very important 200-day SMA and for now, seems to have stalled its recent pullback from four-month tops. USD/CAD supported by a combination of factors Continuous worries over the economic impact of the coronavirus outbreak exerted some pressure on crude oil prices, which undermined demand for the commodity-linked currency – the loonie – and was seen as one of the key factors driving the pair higher on Tuesday. On the other hand, the US Dollar Index stood stall near 4-1/2 month tops, set last Friday and benefitted further from a softer tone around equity markets. Stronger USD provided an additional boost and assisted the pair to erase the previous session’s negative move to monthly lows. It will now be interesting to see if the pair is able to capitalize on the positive momentum or runs out of the steam at higher levels amid relatively thin economic docket on Tuesday, highlighting the release of the Empire State Manufacturing Index from the US and monthly Manufacturing Sales data from Canada. Technical levels to watch 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 Crypto Today: Bitcoin regains lost ground; altcoins switch in a green mode FX Street 2 years USD/CAD regains positive traction on Tuesday and rebounds from monthly lows. Weaker oil undermined the loonie; stronger USD provided an additional boost. Investors now eye second-tier US/Canadian macro data for some trading impetus. The USD/CAD pair maintained its bid tone through the early European session and is currently placed near the top end of its daily trading range, just above mid-1.3200s. A combination of supporting factors helped the pair to catch some fresh bids on Tuesday and snap two consecutive days of losing streak. The pair staged a goodish rebound from the very important 200-day SMA and for now, seems… 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.