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USD/CAD opened Noram markets 1.3350, 12 pips higher compared to Friday's close.
- The pair spikes to hit day's highs at 1.3378 after trading relatively muted in the Asian session, holding within the 1.3315/1.3345 range
- Glencore share price losses helping weigh on commodity currencies, oil price drop also adds to the pressure
- Canadian data calendar remains quiet until Wednesday's monthly GDP reading for July
- US personal income/PCE, pending home sales, Dallas Fed due later in the day to influence direction
- The pair is currently trading at 1.3367, with immediate resistance at 1.3377 (30-Day Upper Bollinger) and support at 1.3319 (Session Low Sep 28)
Resistance Levels:
R1: 1.3377 (30-Day Upper Bollinger)
R2: 1.3400 (Psychological Level)
R3: 1.3417 (2015 High Sep 24)
Support Levels:
S1: 1.3319 (Session Low Sep 28)
S2: 1.3297 (Daily Low Sep 25)
S3: 1.3254 (21-DMA)
