FXstreet.com (Barcelona) -USD/CAD has risen around 100 pips in the American session, and 1.50% along the day, to reach the 1.2615 level, highest since March 19. Currently, the pair is testing the 1.2600 level.
USD has risen 1.44% against the CAD in Monday session from the 1.2402 opening price, currently the pair is trading around the 1.2605/1.2615 band, but first it has reached 1.2385 as intra-day lowest and 1.2615 as highest.
Last Friday, USD/CAD rose 0.98% from its 1.2301 opening price, reaching 1.2445 as highest and 1.2266 as lowest, to close at 1.2421.
According to Valeria Bednarik, FXstreet.com collaborator, oil prices below 50,00 continue supporting an USD/CAD higher: USD/CAD continues pushing higher with oil back under $50.00 a barrel. The pair has just break above 1.2600 and seems ready to retest the key resistance zone around 1.2668. Well above the 200 EMA, in 4 hours charts, the pair is also overbought. Corrections could extend as much as 1.2545 first and then to 1.2500 zone.