USD/CAD is losing ground despite the pullback in precious metals markets. Gold continues its attempts to settle below the $4150 level, while silver pulled back towards the $59.00 level. Other commodity-related currencies are also moving higher in today’s trading session.

In case USD/CAD settles below the 1.4200 level, it will head towards the support at 1.4135 – 1.4150. On the upside, USD/CAD needs to settle back above the resistance at 1.4235 – 1.4250 to have a chance to gain upside momentum in the near term. In this case, USD/CAD will move towards the 1.4300 level.

USD/JPY Stays Range-Bound