Loonie corrects lower, remains limited by lower crude oil prices and risk aversion. USD/CAD holds far from last week highs, consolidating near 1.3300. The USD/CAD pair is rising modestly on Monday, after making an important reversal on Friday. As of writing, it was hovering slightly below 1.3300. The intraday bias pointed to the upside but it remained unable to make a sustainable run above 1.3300. While the US dollar is showing weakens in the market, risk aversion and lower crude oil prices limited any correction in USD/CAD. WTI Futures are falling after a sharp rally on Friday. The barrel was down 0.50%. In Wall Street, the Dow Jones hit monthly lows and it was down 1.40%. Regarding economic data, today’s US housing numbers have no impact on the greenback. The next relevant report in the is due on Thursday with another reading of Q1 GDP. In Canada, April GDP data will attract the most attention and a positive contribution is expected from the mining sector but it should be largely offset by a poor showing in the manufacturing sector, explained analysts at NBF. USD/CAD Short-term Technical Levels To the downside, support levels might be located at 1.3295 (uptrend line), 1.3260/65 (Jun 22 & 25 low) and 1.3235/40 (Jun 18 high). On the upside, resistance might be seen at 1.3320/25 (daily high), followed by 1.3350 and 1.3380 (last week high). 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 UK PM May: UK to announce new Brexit details after June summit FX Street 5 years Loonie corrects lower, remains limited by lower crude oil prices and risk aversion. USD/CAD holds far from last week highs, consolidating near 1.3300. The USD/CAD pair is rising modestly on Monday, after making an important reversal on Friday. As of writing, it was hovering slightly below 1.3300. The intraday bias pointed to the upside but it remained unable to make a sustainable run above 1.3300. While the US dollar is showing weakens in the market, risk aversion and lower crude oil prices limited any correction in USD/CAD. WTI Futures are falling after a sharp rally on Friday. The barrel was… 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.