USD/CAD struggles for direction, still below 1.3100

The greenback is trading almost unchanged vs. its Canadian neighbor at the end of the week, with USD/CAD consolidating in the 1.3065/70 band.

USD/CAD finds support near 1.3000

Spot remains unable to break the weekly consolidative theme in either direction, although decent support seems to have emerged in the 1.3000 neighbourhood for the time being.

In the meantime CAD stays skeptic to yield spreads between the US and Canadian money markets and crude oil dynamics, leaving the bulk of the price action to developments coming from the greenback.

Nothing scheduled today in the US data space, whereas Canadian International Transactions are only due later in the NA session. In addition PM J.Trudeau will meet Chancellor A.Merkel in Berlin.

USD/CAD significant levels

As of writing the pair is losing 0.01% at 1.3070 facing the next support at 1.3007 (low Feb.16) seconded by 1.2977 (low Feb.2) and then 1.2967 (low Jan.31). On the other hand, a surpass of 1.3098 (20-day sma) would aim for 1.3121 (high Feb.15) and finally 1.3145 (200-day sma).