USD/CAD climbs further
USD/CAD ran some stops in a pop to 1.2585. The high last week was 1.2590 and that’s the short-term resistance level to watch.
The loonie isn’t getting any help from the intraday improvement in oil prices today
The move higher in the pair is part of a broader USD bid as risk aversion ramps up. The S&P 500 is down 16 points and having another look at the lows of the day.
I fear this could get ugly into the close with the dip buyers finally taking a break.
Source:https://www.forexlive.com/technical-analysis/!/usdcad-tests-the-june-high-20210715
