USD/CAD rebounds from daily low and finds support at 1.3700

The intraday USD/CAD rebound from the 1.3700 support area is minimal. Fed rate rise wagers that are taken aggressively boost the USD demand and serve as a tailwind. Low oil prices have little impact on the Canadian dollar or give the pair any momentum.

On Friday, the USD/CAD pair found some support around the 1.3700 level and stopped its overnight decline from the 1.3975–1.3980 range, or its highest point since May 2020. In the early European session, the pair rises again toward the day high and trades around mid-1.3700s.

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EDGE-FOREX 

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