USD/CAD: Loonie suffers from Trump-win jitters, oil slide

The Canadian dollar fell to fresh eight-month lows against its American counterpart on Wednesday, mainly driven by risk-off market profile as a Trump win at the US presidential election is almost confirmed.

Republicans looks set to take Senate as they need another 3 for majority), which could be a clean sweep for the GOP.

The Loonie faces double whammy on the back of widespread risk-aversion on one hand, while tumbling oil prices also weigh heavily on the resource-linked CAD.

The USD/CAD pair rallies hard to fresh 8-month highs above 1.3500, up +1.75% on the day.

USD/CAD: Technical levels:

Key Resistances: 1.3550 (psychological levels), 1.3600 (zero figure)

Key Supports: 1.3391/94 (10 & 5-DMA), 1.3343 (20-DMA), 1.3300 (key support)