USD/CAD falls below 1.2900

USD/CAD extended losses during the American session, breaking below 1.2900 to hit a 9-day low as oil prices take a breather following yesterday’s slump.

USD/CAD slid through the 1.29 mark and hit its lowest level in over a week at 1.2861 before recovering slightly. At time of writing, the pair is trading at 1.2890, 0.66% below its opening price.  

USD/CAD levels to consider

As for technical levels, next supports are seen at 1.2830 (Jul 4 low), 1.2710 (Jun 24 low) and 1.2677 (Jun 23 low). On the upside, resistances could be found at 1.2980 (100-day SMA), 1.3082 (Jul 13 high) and 1.3139 (Jul 11 high).