USD/CAD has won back losses on strong US statistics

The US dollar has won back losses against the Canadian Dollar on Tuesday and is trading at nine-month highs, supported by upbeat US economic data, while the decline in oil prices is putting pressure on the Canadian currency.
In early US trade, the pair USD/CAD rebounded from 1.3489, the session low, to 1.3527, still down by 0.26%.
The pair was likely to receive support at 1.3420, Friday's low, and resistance at 1.3589, Monday's high and a nine-month high level.
Demand for the dollar as a whole is stored on hopes that the presidency of Trump would increase budget spending, will come to tax cuts and a weakening of the financial regulation, which, in turn, will contribute to improving the economic growth and inflation.
The Canadian dollar remained under pressure as oil prices continue to decline amid concerns of oversupply of world reserves.
Canadian dollar is higher against the euro, with EUR/CAD rose by 0.29% to 1.4516.