Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
The USD/CAD pair retests its February’s lows
Information is not investment advice
The release of the BOC business outlook survey came out positive and strengthened the CAD. USD/CAD has tested the lows of the last February at 1.3068. The next support lies at 1.2988. From the upside, the first resistance is placed at 1.3125, the next one is at 1.3168.
The market sentiment deteriorated amid increasing virus cases in the USA and Australia. Investors prefer safe-haven assets like gold, the US dollar and the Japanese yen.
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.