USD/CAD spikes to 6-day high

USD/CAD jumped to fresh session highs while oil prices continued to fall amid resumption of the risk-off sentiment in financial markets.

USD/CAD pushed through the 1.2800 level and hit a fresh 6-day peak of 1.2826 before retreating. At time of writing, the pair is trading at 1.2790, still up 0.28% on the day.

In the absence of first-tier data, cautious mood prevails as investors await the Federal Reserve verdict on monetary policy on Wednesday.

USD/CAD technical levels

As for technical levels, next resistances could be found at 1.2826 (Jun 13 high), 1.2869 (50-day SMA) and 1.2960 (20-day SMA). On the other hand, supports are seen at 1.2762 (Jun 13 low), 1.2659 (Jun 8 low) and 1.2585 (Apr 29 high).