USD/CAD climbs to highs around 1.3130

The greenback is advancing further vs. its Canadian neighbour today, pushing USD/CAD to fresh highs around 1.3130.

USD/CAD stronger ahead of data

The continuation of the USD rally plus crude oil prices retracing the earlier upside beyond the $49.00 mark is helping spot to regain the 1.3100 handle and print daily tops near 1.3130 ahead of key Canadian releases due later.

In fact, Canadian consumer prices tracked by the CPI are expected to have risen at a monthly pace of 0.3%, while Core CPI is seen at 0.1% Mom. Retail Sales, instead, would have contracted 0.6% inter-month during March, reverting February’s 0.4% gain.

USD/CAD significant levels 

As of writing the pair is up 0.22% at 1.3122 and a breakout of 1.3155 (high May 19) would aim for 1.3219 (high Apr.5) and then 1.3312 (38.2% Fibo of 1.4692-1.2458). On the other hand, the immediate support aligns at 1.2986 (23.6% Fibo of 1.4692-1.2458) followed by 1.2960 (55-day sma) and finally 1.2820 (20-day sma).