USD/CAD climbs to fresh 1-month highs

USD/CAD extended gains to fresh September highs on Tuesday, as the loonie remains among the worst performers in the FX space, weighed down by risk sentiment and lower oil prices.

USD/CAD broke above Monday’s highs and rallied to a peak of 1.3171, last seen on Aug 9. The pair consolidates near highs, presently at 1.3160, recording a 0.93% gain on the day.

USD/CAD technical levels

As for technical levels, next resistances are seen at 1.3199/1.3200 (Aug 5 high/psychological level), 1.3252 (Jul 27 high) and 1.3265 (200-day SMA). On the other hand, supports could be faced at 1.3017 (50-day SMA), 1.2955 (100-day SMA) and 1.2909 (Sep 9 low).