FXStreet (Edinburgh) - The Canadian dollar has trimmed its earlier losses vs. its American neighbour on Wednesday, now taking USD/CAD to the 1.3260 region.
USD/CAD directionless, eyes on crude, risk
The pair is now alternating gains with losses after rebounding from overnight troughs in the 1.3240 region, keeping a narrow range amidst scarce volatility in response to the inactivity in the US and Canadian markets.
The current sell-off in crude oil prices keep capping CAD gains, while the flat performance of the greenback has been limiting the occasional bullish attempts.
USD/CAD levels to consider
As of writing, the pair is retreating 0.03% at 1.3260 facing the next support at 1.3179 (55-day sma) followed by 1.3069 (61.8% Fibo of 1.3459-1.2827) and finally 1.2988 (5-month uptrend). On the other hand, a surpass of 1.3317 (high Nov.6) would open the door to 1.3355 (high Aug.25) and then 1.3458 (high Sep.29).
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