FXStreet — The offers against the Greenback at the end of the week unabated and the USD/CAD to a new Low of 1,3570.
USD/CAD focus on CPI
After 4 consecutive weeks of gains, the Pair is added to a loss of weeks, as the Greenback is characterized by weakness and Oil prices recover.
Since the recent results of the U.S. Inflation and retail sales for April, the USD. Was accelerated the downward movement by the Trump-Russia controversy.
The dynamics of crude oil prices also had an impact on the Pair. WTI crude oil could rise to about $ 50.00 per Barrel in the vicinity of the 4-week high, as hopes of a Strengthening of the OPEC/non-OPEC crude oil production increased reduction until Q1 2018.
From Canada expect us today the CPI results for the month of April.
USD/CAD technical levels
Currently, the daily loss or -0.19% at 1,3577 and the next supports is at 1,3565 (Deep 19. May), 1,3508 (50 % Fibo of the April to may rally) and 1,3480 (55-day SMA). On the other hand, Resistances can be found at 1,3649 (20-day SMA), 1,3659 (Fibo 23.6% on the April-to-may rally) and 1,3671 (High 18. May).
** FXStreet News Editorial, FXStreet**