USD/CAD wobbles around 1.30 on US data

The greenback lost some upside momentum vs. its Canadian neighbour, now sending USD/CAD to test the 1.3000 key support.

USD/CAD gains capped near 1.3100

Spot is challenging the psychological support at 1.3000 after US headline Durable Goods Orders have surprised markets to the downside, contracting 2.2% on a monthly pace during May. Orders stripping the Transportation sector have followed suit, down 0.3% vs. April’s 0.4% gain.

In the meantime, the pair’s upside bias keeps deriving support from the prevailing risk-off tone after the UK voted to leave the European Union with almost 52% of the votes.  

Adding to the CAD offered stance, the barrel of WTI is shedding more than 4% and trading below the $48.00 mark ahead of the US oil-rig count due later.

USD/CAD significant levels

As of writing the pair is up 1.79% at 1.3005 facing the next hurdle at 1.3100 (high Jun.24) ahead of 1.3191 (high May 24) and finally 1.3329 (200-day sma). On the other hand, a breakdown of 1.2679 (low Jun.23) would open the door to 1.2651 (low Jun.8) and then 1.2590 (low Apr.20).