USD/CAD climbs to daily highs beyond 1.2900

The greenback is now picking up further pace vs. its Canadian counterpart today, lifting USD/CAD to daily highs above the 1.2900 mark.

USD/CAD firmer ahead of data

Weaker crude oil prices keep weighing on CAD so far, with the barrel of West Texas Intermediate testing fresh lows in the mid-$47.00s, all amidst a swelling offered bias in the risk-associated space.

Adding to the pair’s upside, the US Dollar Index is flirting with session peaks in the vicinity of 95.80 ahead of US Factory Orders and Dudley’s speech.

USD/CAD significant levels

As of writing the pair is advancing 0.74% at 1.2940 and a break above 1.3022 (100-day sma) would expose 1.3121 (high Jun.27) and then 1.3191 (high May 24). On the flip side, the next support lines up at 1.2674 (low Jun.23) ahead of 1.2651 (low Jun.6) and then 1.2458 (2016 low May 3).