USD/CAD drops further to 1.2870

The Canadian dollar keeps the firm note vs. the greenback at the beginning of the week, now sending USD/CAD to the region of daily lows around 1.2870.

USD/CAD eyes on data, BoC

The pair is prolonging its decline on Monday, challenging lows in the vicinity of 1.2850 recorded on Friday following a swelling buying interest around the Canadian dollar.

Crude oil prices have reverted session lows and regained the $49.00 mark, with West Texas Intermediate hovering over the $49.20 area.

Next of note will be the RBC’s manufacturing PMI followed by the key BoC’s Business Outlook Survey.

USD/CAD significant levels

As of writing the pair is retreating 0.29% at 1.28873 and a breach of 1.2674 (low Jun.23) would aim for 1.2651 (low Jun.6) and then 1.2458 (2016 low May 3). On the flip side, the next resistance aligns at 1.3030 (100-day sma) ahead of 1.3121 (high Jun.27) and then 1.3191 (high May 24).