Tests the July 19 highs
The USDCAD has moved higher as crude oil moves to new session lows.
The USDCAD price has moved up to 1.2796. That’s getting close to the July 19 high of 1.28066. The price also moved above a swing area between 1.2783 and 1.2786. Watch that level now for close support.
WTi crude oil has moved to a new low of $62.71. The price is currently at $62.79. That’s down -$1.80 or -2.8%. The price earlier today moved below the swing lows going back to July 20 and August 10 near $65.13. The break below that level increase the bearish bias.