USD/CAD climbs to near 1.3100

USD/CAD advanced to fresh weekly highs at the beginning of the American session, with the Canadian dollar a tad softer in sync with lower oil prices.

In the absence of either domestic or US releases, USD/CAD continues to be driven by sentiment. USD/CAD reached a high of 1.3095 but lacked momentum to clear the 1.31 mark. At time of writing the pair is trading at 1.3090, 0.55% above its opening price.

USD/CAD levels to consider

As for technical levels, USD/CAD could find next resistances at 1.3100 (psychological level), 1.3139 (Jul 11 high) and 1.3187 (May 24 high). On the other hand, supports are seen at 1.3013 (Jul 20 low), 1.2961 (100-day SMA) and 1.2926 (Jul 18 low).