The Canadian Dollar gained against the USD, sending the pair back to its week long downtrend, as oil prices continue to rise. Oil is Canada's major export product, affecting the local currency accordingly. The long term direction in the pair is unclear and it's mostly ranging for the past months. Looking for a short term reversal upwards is possible above 1.0385. Overall, USD/CAD traded with a low of 1.0274 and with a high of 1.0384.

USD/CAD - Last: 1.0314

Resistance

1.0344

1.0385

1.0462

Support

1.0276

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