USDCAD pushes to new session highs and tests 2018 high price

Oil and commodities pressuring the commodity currencies. AUDUSD and NZDUSD moving lower

The USDCAD is moving to new session highs and is testing the 2018 high at 1.3444. A move above will have the pair trading at the highest level since June 2017.

Crude oil prices are trading down -$2.14 or -4.13% at $47.75. The low reached $47.51. Also Manufacturing sales were weaker than expected at -0.1% vs 0.4% estimate.

The AUDUSD and the NZDUSD are also being pressured.

For the AUDUSD, the pair has retraced most of the move higher today and looks toward a test of the low yesterday and from Friday (at 0.71677 and 0.71503 respectively).

For the NZDUSD, the price has moved back below the 200 hour MA at 0.6852 and eyes the 200 day MA at 0.6835.

The NZD was the strongest currency today and is still the strongest of the majors. However, it has retraced some of the gains.