USD/CAD Slightly Up

USD/CAD is trading relatively to the upside in today's session after making a low of 1.2929. The pair is now trading at 1.2995 and it appears to be consolidating around major support and resistance levels. The support is seen at 1.2870 and the resistance is seen at 1.3120.

No major US news are scheduled for this week but on Friday we have Bank of Canada Consumer Price Index for June. It is likely that price will continue gravitating towards the 1.30 level until Friday's news that would create a stir in the currency's price.

In the long-term, USD/CAD keeps its bearish momentum after a steady drop from 1.4690 to a low of 1.2460 in about three months between the end of January and the beginning of May.

Chart: USD/CAD D1