USD/CAD consolidation of the upward movement to a 14-month high

FXStreet — After the 14-month high was reached, began the USD/CAD with a consolidation of its bullish movement and oscillates it around the mid-1.3600 for.

The muted USD rate development prevents new bullish impetus, as the recent U.S. economic were data disappointing. Add to this the strong recovery in the WTI crude oil prices, which are the currencies of the commodity as the Loonie supports and leads the Pair below the highest level since Feb. In 2016 remains, which was reached last Friday.

The investors seem to be on the most important Events of the week, the FOMC meeting and the NFP report to wait before new bullish positions.

Important Levels

Resistors above 1,3700 are 1,3745/50, 1,3785/90 and 1,3800. On the other hand, supports are located under the 1,3650 at 1,3620, 1.3600 for and 1,3575/70.

** FXStreet News Editorial, FXStreet**

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