USD/CAD testing highs above 1.3200

The greenback is recovering part of its shine today, now pushing USD/CAD to the area of daily tops beyond 1.3200 the figure.

USD/CAD focus on BoC, oil

Spot has shrugged off Monday’s test of daily lows near 1.3130 and is back above the 1.3200 handle today, posting decent gains for the time being ahead of US Housing Starts , Building Permits and the weekly report on crude oil stockpiles by the API.

In addition, CAD will remain in the limelight as Governor S.Poloz is due to speak later in the NA session followed by a press conference.

Still with CAD, the barrel of West Texas Intermediate is retreating marginally so far today albeit managing to keep the trade above the $43.00 mark.

USD/CAD significant levels

As of writing the pair is up 0.02% at 1.3204 facing the next hurdle at 1.3249 (high Sep.16) followed by 1.3253 (high Jul.27) and finally 1.3311 (38.2% Fibo of the 2016 drop). On the other hand, a breakdown of 1.3042 (base of the 4-month rising channel) would aim for 1.2991 (100-day sma) and then 1.2827 (low Sep.6).