- The dollar with mixed results on Tuesday, before US inflation data.
- Oil prices rise more than 1%.
- USD/CAD with limited ranges and support above 1.2830.
The USD/CAD is trading at daily highs in the 1.2880 zone, despite the fact that the dollar presents mixed results and the rise in the price of oil. The pair however remains without a clear direction.
After the start of the American session, the USD/CAD cut several hours of trading in ranges, but still has not moved far enough from 1.2870, the upper limit of said range.
In the opposite direction, key support is seen around 1.2840. A confirmation below this latest level would point to further downside, initially testing last week’s low at 1.2815/20.
The dollar does not show a clear direction on Tuesday. Find support in rising Treasury yields. At the same time, oil prices rise more than 1% trying to recover ground.
Stock markets move without a clear direction. The expectation is set on what will be the US retail inflation data on Wednesday. The latter has great potential to move the market.
Technical levels
Source: Fx Street
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