The Canadian Dollar (CAD) is broadly flat to lower against the majority of its major currency peers on Tuesday, shedding a quarter of a percent against both the Pound Sterling (GBP) and the Japanese Yen (JPY). The CAD is flat against both the US Dollar and the New Zealand Dollar (NZD), however, trading within a tenth of a percent of Tuesday’s opening bids.
The USD/CAD rose early Tuesday, getting rejected once again from the 1.3600 handle and trading back into congestion. The USD eased back to a session low of 1.3555 against the Canadian Dollar before the pair recovered to familiar territory near 1.3580.
USD/CAD continues to knock into the 1.3600 handle as daily candles pull into congestion. The pair continues to find support above the 200-day Simple Moving Average (SMA) at 1.3477.
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