USD/CAD breaks above key 1.3250, tests 1.3300

US Dollar gains momentum after US data.
USD/CAD trades at three-week highs, risks tilted to the upside.

Matías Salord FXStreet

The USD/CAD broke above 1.3250 and climbed to 1.3299, reaching the highest level since July 10. The pair has left behind several days of sideways movement between 1.3250 and 1.3150.

Economic data from the US came in mixed, with the JOLTS job openings coming in below expectations in June at 9.58 million, against a consensus of 9.62 million. The ISM Manufacturing Index PMI rose from 46 in June to 46.4 in July, below the expected 46.8.

More US labor market data is due on Wednesday, with the ADP private employment report, and later on Thursday with the weekly Jobless Claims and Unit Labor Costs. On Friday, the US and Canada will release their official employment reports.

The US dollar remains strong after the data and has climbed to fresh highs versus commodity currencies. US Treasury yields edged higher despite the fact that the economic figures did not show positive surprises.

USD/CAD levels to watch

The outlook for USD/CAD is turning bullish as the pair holds above the critical resistance area of 1.3250. While above this level, more gains seem likely. The next resistance is the 1.3300/10 area, and above that is 1.3350.

The 1.3250 zone has now become the immediate support. A slide below this level would put the pair back in the familiar range. The next support stands at 1.3195.

Technica levels

USD/CAD

Overview
Today last price	1.3298
Today Daily Change	0.0108
Today Daily Change %	0.82
Today daily open	1.319

Trends
Daily SMA20	1.3216
Daily SMA50	1.3299
Daily SMA100	1.3418
Daily SMA200	1.3461

Levels
Previous Daily High	1.3262
Previous Daily Low	1.3151
Previous Weekly High	1.3255
Previous Weekly Low	1.3147
Previous Monthly High	1.3387
Previous Monthly Low	1.3093
Daily Fibonacci 38.2%	1.3193
Daily Fibonacci 61.8%	1.3219
Daily Pivot Point S1	1.314
Daily Pivot Point S2	1.309
Daily Pivot Point S3	1.303
Daily Pivot Point R1	1.3251
Daily Pivot Point R2	1.3311
Daily Pivot Point R3	1.3361

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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