The USD/CAD pair loses some ground after being rejected from the 1.3600 barrier during the early European session on Monday. Traders await the Canadia
The key resistance level is seen at 1.3600; the initial support level is located at 1.3515.pair loses some ground after being rejected from the 1.3600 barrier during the early European session on Monday. Traders await the Canadian S&P Global Manufacturing PMI for September ahead of the US ISM Manufacturing PMI due later in the North American session on Monday. The pair currently trades near 1.3570, losing 0.06% on the day.
The immediate resistance level for the pair is seen near the confluence of a psychological round figure and the upper boundary of the Bollinger Band of 1.3600. The additional upside filter to watch is near a high of May 31 at 1.3651. Further north, the pair will see a rally to a high of September 5 at 1.3670. Any follow-through buying above the latter will pave the way to a high of September 7 at 1.3695.
It’s worth noting that the Relative Strength Index is located in the bullish territory above 50, which means the path of the least resistance of USD/CAD is to the upside.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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