U.S. Dollar Index continues to move higher as traders focus on the better-than-expected ISM Services PMI report. The report indicated that ISM Services PMI increased from 50.0 in September to 52.4 in October, compared to analyst forecast of 50.8.
USD/CAD Keeps Moving Higher
USD/CAD tests new highs despite the rebound in precious metals markets. Other commodity-related currencies are moving higher in today’s trading session.
From the technical point of view, USD/CAD is moving towards the resistance at 1.4150 – 1.4165. A successful test of this level will open the way to the test of the next resistance at 1.4250 – 1.4270.
