USD/CAD keeps the trade above 1.3000

The greenback keeps the upside bias alive on Friday, lifting USD/CAD through the 1.3000 handle ahead of the US data.
USD/CAD focus on ‘Brexit’, oil, data
Spot regained the bullish momentum as the ‘Brexit’ win in the UK keep weighing heavily on the risk-associated space, with CAD dropping to the boundaries of the 1.3100 handle earlier in the session.
Additionally, the barrel of West Texas Intermediate is down nearly 5% in the $47.70 area, adding to CAD weakness.
Next of relevance in the pair will be US Durable Good Orders and the final results from the Reuters/Michigan index in June.
USD/CAD significant levels
As of writing the pair is up 2.01% at 1.3033 facing the next hurdle at 1.3100 (high Jun.24) ahead of 1.3191 (high May 24) and finally 1.3329 (200-day sma). On the other hand, a breakdown of 1.2679 (low Jun.23) would open the door to 1.2651 (low Jun.8) and then 1.2590 (low Apr.20).
Author

Pablo Piovano
FXStreet
Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

















