- USD/CAD keeps it strong above 200-DMA.
- The Loonie pair still remains below the monthly top.
- The US Dollar (USD) registers across the board gains while WTI witnesses pullbacks.
The USD/CAD pair’s sustained trading beyond 200-day simple moving average (DMA) enables it to remain firm around 1.3330 during Tuesday’s Asian session.
Despite geopolitical tension in Syria, and also concerning Iran, oil prices fail to rise as the USD’s overall strength disappoints commodity buyers. As a result, the Loonie pair also have to register gains.
It should also be noted that uncertainty surrounding the US-China trade talks is offering additional weight on the commodity-linked currencies, like the Canadian Dollar (CAD).
Given the absence of major data/event, investors will keep an eye over news/headlines for fresh impulse.
Repeated failures to cross the monthly high around 1.3345/50 makes it the key towards June month top surrounding 1.3435. On the downside, 1.3250 and 50-DMA level of 1.3180 will be important for sellers to watch.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.