Investing.com - The U.S. dollar was almost unchanged against its Canadian counterpart on Tuesday, although the greenback found some support amid growing optimism over the strength of the U.S. economic recovery.
USD/CAD hit 1.1368 during early U.S. trade, the session low; the pair subsequently consolidated at 1.1373, easing 0.06%.
The pair was likely to find support at 1.1297, Monday's low and resistance at 1.1448, the high of November 7.
The dollar slid in the previous two sessions after Friday’s softer than expected U.S. jobs report prompted a bout of profit taking to lock in gains after the greenbacks recent run higher.
The dollar has rallied over the past two months as broadly stronger economic data fuelled expectations that the Federal Reserve will raise interest rates sometime in 2015.
In contrast, central banks in Japan and the euro zone are likely to stick to a looser monetary policy stance in a bid to spur growth and inflation.
The loonie was little changed against the euro, with EUR/CAD inching up 0.01% to 1.4132.
Sentiment on the euro remained vulnerable after weak Italian data on Monday fuelled fears that its economy is falling back into a recession.