Canadian Dollar
USD/CAD to consolidate. Pair underpinned by increased investor risk aversion, softer oil prices, wider-than-expected Canada 2Q current account deficit. Data focus: 1230 GMT Canada 2Q GDP. USD/CAD daily chart mixed as MACD bullish, but stochastics bearish at overbought. Resistance at 1.0604 (yesterday's high); breach would expose upside to 1.0648 (Friday's high), then 1.0667-1.0677 band (Wednesday's high-July 6 reaction high) and 1.0851 (May 25 reaction high). Support at 1.0520 (hourly chart); breach would expose downside to 1.0469 (yesterday's low), then 1.0441 (Aug. 23 low), 1.0378 (Aug. 20 low) and 1.0241 (Aug. 19 low).