USD/CAD jumps to test 1.0850

FXStreet (San Francisco) - The US dollar is trading higher against its Canadian counterpart following the better than expected US consumer confidence data in June. The USD/CAD jumped to 1.0845, highest since June 18.

Currently, USD/CAD is trading at 1.0834, up 0.32% on the day, having posted a daily high at 1.0849 and low at 1.0795. The hourly FXStreet OB/OS Index is showing overbought conditions, alongside the FXStreet Trend Index which is slightly bullish.

USD/CAD levels

Above the 1.0850, the USD/CAD would face resistances at 1.0900 and 1.0955. On the downside, supports are at 1.0800, 1.0710 and 1.0630.