USD/CAD’s recovery from the 1,37, rising Oil prices limit the upward movement

FXStreet — The USD/CAD was the initial decline to 1,3700 with increasing buying interest to reverse.

Currently, the trade takes place to 1,3715, in the last hour, day-to-day high has been formed and the trade now the 3. The day takes place in a row in profit. The US Dollar Index, which represents the strength of the USD vs. its 6 most important rival, builds a part of its initial losses, with the correction in the US Treasury bond yields.

US Dollar to move sideways to 99,30

In spite of the good recovery of the Oil prices, the Couple was able to grow. WTI crude oil holds above 46,00 $ per Barrel and the commodity supported currencies such as the Loonie, so that the gains of the pair under the 1,3750 (yesterday’s swing remain high) is limited.

The canadian Dollar is charged on the other hand, due to the yesterday’s disappointing building permits, as these have fallen in March to -5.8%, over the previous month, a decline by -2.5%.

Today there is no important economic data, and wait for the dealer to the release of the weekly EIA US crude oil inventories.

Important Levels

Resistors on 1,3750 abound at 1.3800 and 1,3855/60. On the other hand, under the 1,3700 supports at 1,3640, 1.3600 for and 1,3575/70.

** FXStreet News Editorial, FXStreet**

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