USD CAD Rebounded to low
9/27/2016 10:13:57 AM
The CAD is posting modest gains against USD on Tuesday, sending USD/CAD to the lower band of the range near 1.3160/70.
CAD has succeeded to revert the first weakness towards the 1.3280 area against the USD following dovish comments by Governor S.Poloz, who suggested the economy could need 1-3 years to rearrange in light of the oil shock.
The pair is losing 0.36% at 1.3178 facing the next support at 1.2990 ahead of 1.2820 and then 1.2759. On the flip side, a break above 1.3275 would open the door to 1.3310 and ultimately 1.3575.