USD/CAD rebounds from lows, approaches 1.2750

The greenback grabbed some buying interest in sub-1.2700 levels today, now sending USD/CAD to test the mid-1.2700s following US data.

USD/CAD finds support around 1.2680

Spot is reversing two consecutive sessions with gains today, as the persistent risk-on theme keeps lending extra support to the Canadian dollar ahead of the results from the UK Referendum.

Data wise in the US calendar, Initial Claims rose to 259K during last week, bettering expectations and taking the 4-Week Average to 267K from 269K in the previous week.

Adding to the daily downside, crude oil prices remains firm, up more than 1% and gearing up for a potential test of the $50.00 mark.

USD/CAD significant levels

As of writing the pair is losing 0.84% at 1.2734 facing the next support at 1.2651 (low Jun.8) followed by 1.2590 (low Apr.20) and then 1.2458 (2016 low May 3). On the other hand, a surpass of 1.2856 (55-day sma) would aim for 1.2887 (20-day sma) and finally 1.3087 (high Jun.16).