Oil erases losses CAD stronger

FXstreet.com (Buenos Aires) - Oil regain the upside and quotes well above $61.30 a barrel after hitting the lows $ 59.00 Monday morning, erasing past session losses and at a three-day high. Rising oil prices are supporting risk appetite across the board, but Canadian dollar as usual is the more benefited with oil movements.

Quoting around 1.1460, USD/CAD has turned bearish in 4 hours charts, with an immediate support at 1.1435, past July 1st low, followed by 1.1400 level and finally 1.1360, 38.2% retracement of last daily rally from 1.0783 to 1.1723. Daily candle open under 20 SMA that lost bullish slope and turn flat, supporting the bias for today. Resistances if a recovery, come ay 1.1500, 1.1535 and 1.1586.

USD/CAD
USD/CAD (Jul 14 at 10:33 GMT)
1.1452/56 (-0.47%)H 1.153 L 1.1442
S3 S2 S1 R1 R2 R3
1.1427 1.1436 1.1444 1.1462 1.1470 1.1479
[?]Trend Index [?]OB/OS Index
Strongly Bearish Neutral
Data updated on Jul 14 at 10:30 (15-minute timeframe)


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