US Dollar gains back positive traction against Canadian Dollar on Monday, although price remains caught in a narrow range. The USD/CAD built rebound from weekly lows after upbeat Canadian inflation figures released and is now trading with mild positive tone through European session.
The price took clues from pullback in crude oil prices and looks unaffected by the subdued price action in US Dollar.
The price is struggling near 1.3300 handle as there is no economic event today and trade volume is quite thin.
Technical Levels to Watch
Sustaining above 1.3300 handle will aim for 55-day moving average at 1.3350 area ahead of 1.3385 swing area. On the flip side, immediate support lies at 1.3250 ahead of 100-day moving average at 1.3200 handle.
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