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    USD/CAD slips below 1.2900, session lows

    The Canadian dollar is now picking up further pace vs. its American counterpart, dragging USD/CAD to daily lows in the 1.2890 area.USD/CAD focus on oil, BoCThe pair has been losing ground since last Tuesday following a pick up in the risk appetite trends that has benefited CAD.In addition, rising crude oil prices have lifted the barrel of West Texas Intermediate back above the $49.00 mark, lending extra support to CAD.Ahead in the session and with US markets closed due to Independence Day holiday, Canadian manufacturing PMI gauged by RBC and the BoC’s Business Outlook Survey will grab all the attention.USD/CAD significant levelsAs of writing the pair is retreating 0.21% at 1.2883 and a breach of 1.2674 (low Jun.23) would aim for 1.2651 (low Jun.6) and then 1.2458 (2016 low May 3). On the flip side, the next resistance aligns at 1.3030 (100-day sma) ahead of 1.3121 (high Jun.27) and then 1.3191 (high May 24).

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