The USD/CAD pair snaps a two-day losing streak during the Asian session on Tuesday. A rebound of the pair is bolstered by a rally of the US Treasury y
USD/CAD attracts some buyers around 1.3630 amid the recovery in US bond yields. The pair holds above the 50- and 100-day EMAs; RSI indicator is located in the bullish territory above 50. The key resistance level is seen at 1.3700; 1.3566 acts as an initial support. ields and a decline in oil prices. Traders will closely monitor the US Retail Sales and the Canadian inflation data. At the time of writing, USD/CAD is trading near 1.3630, holding higher while adding 0.15% on the day.
Any decisive follow-through buying above the latter will see a rally to the upper boundary of the Bollinger Band of 1.3770. The additional upside filter to watch is near a high of October 5 at 1.3785. Further north, the pair will see a rally to a high of March 10 at 1.3860. On the flip side, a low of October 10 at 1.3566 acts as an initial support for USD/CAD. The next contention level is located near the 50-day EMA at 1.3545, followed by the 100-day EMA at 1.3493.
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