USD/CAD off high, returns near 1.3050

The greenback is advancing marginally vs. its Canadian peer on Tuesday, with USD/CAD now navigating the mid-1.3000s.

USD/CAD gains capped near 1.3130

The pair is recovering the ground lost on Monday, finding decent support in the 1.3030 area amidst a bid tone in the buck following the Asian session.

The price for the barrel of West Texas Intermediate dropped to fresh lows near $44.70 on Monday before closing higher, helping spot to briefly clinch daily peaks near 1.3130.

Ahead in the session, no data is scheduled in Canada, while NFIB’s Optimism index is only due in the US docket ahead of the weekly report on crude stockpiles by the API.

USD/CAD significant levels

As of writing the pair is gaining 0.13% at 1.3058 and a break above 1.3149 (high Sep.1) would aim to 1.3253 (high Jul.27) and finally 1.3266 (200-day sma). On the other hand, the immediate support lines up around 1.3010 (55-day sma) followed by 1.2973 (20-day sma) and then 1.2827 (low Sep.6).