USD/CAD Biased Up On Weak Oil; Spillover from USD/JPY Strength

        0127 GMT [Dow Jones] USD/CAD is likely to trade in a higher range Friday, supported by weak oil prices (Nymex crude hit a four-year low $74.07/barrel Thursday); loonie sales on cross trades versus major currencies; spillover strength from a bullish USD/JPY as the greenback hit a fresh seven-year high of 116.20 against the Japanese currency this morning. Daily chart is mixed as the MACD indicator is bearish, but the slow stochastic measure is neutral. Resistance is at 1.1391-1.1401 band (Thursday's high-Tuesday's high). A rise above 1.1401 would expose upside to 1.1448 (November 7 high), then to 1.1466 (November 5 high). Support is at 1.1296 (Thursday's low); a breach would tilt the near-term view negative, targeting 1.1277 (Wednesday's low). Spot USD/CAD is at 1.1380. (jerry.tan@wsj.com)
        (END) Dow Jones Newswires

        November 13, 2014 20:27 ET (01:27 GMT)