USD/CAD trades near 1.4114 after rebounding from 1.4070
The US Dollar rebounded on Monday, paring earlier losses and lifting USD/CAD.
The pair’s rise came as oil prices erased most of last week’s gains, weighing on the CAD.
West Texas Intermediate trades near $82.70 per barrel, down over 7% on the day.
Technical indicators point to easing selling pressure for USD/CAD, which remains above its 50-day and 100-day Simple Moving Averages.