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CAD Rises to Highest Level in Two Weeks

M. Ali 8 October, 2020 8:02 pm Forex Market, Market Update

The Canadian Dollar (CAD) rose to its highest level against the US Dollar (USD) in more than two weeks, supported by a surge in oil prices.

Recent remarks by the Bank of Canada (BoC) Governor Tiff Macklem suggested that negative interest rates remain an option.

The CAD is up by 0.28% against the USD, with the later trading at 1.3219 CAD.

The USD/CAD pair has been moving in a range between 1.3219 and 1.3273, after closing Tuesday at 1.3256.

Support Levels: 1.3228 – 1.3200 – 1.3143

Resistance Levels: 1.3313 – 1.3370 – 1.3398

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