CANADIAN DOLLAR RISES AGAINST MAJORS

The Canadian dollar strengthened against other major currencies in the Asian session on Monday.

The Canadian dollar rose to a 7-1/2-month high of 0.8783 against the Australian dollar and nearly an 8-month high of 109.13, from Friday's closing quotes of 0.8795 and 108.99, respectively.

Against the euro and the U.S. dollar, the loonie advanced to 1.4347 and 1.3156 from recent lows of 1.4372 and 1.3181, respectively.

If the loonie extends its uptrend, it is likely to find resistance around 0.85 against the aussie, 112.00 against the yen, 1.41 against the euro and 1.29 against the greenback.

News are provided by InstaForex

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