Investing.com - The U.S. dollar edged higher against its Canadian counterpart on Monday, as demand for the safe-haven greenback remained supported by concerns over mounting tensions in Ukraine and in the Middle East.
USD/CAD hit 1.0752 during European afternoon trade, the pair's highest since July 18; the pair subsequently consolidated at 1.0748, adding 0.11%.
The pair was likely to find support at 1.0709, the low of July 18 and resistance at 1.0794, the high of June 16.
Investors remained cautious after the downing of a Malaysian airliner in eastern Ukraine last week and ongoing fighting in Gaza continued to dominate market attention.
On Monday, some 100 Palestinians and 18 Israeli soldiers had been killed in a nearly two-week military offensive in the Gaza strip.
Meanwhile, monitors from the Organisation for Security and Cooperation in Europe were granted some limited access to the crash site in Ukraine on Saturday, a day after the organization complained "visibly intoxicated" gunmen blocked their way to the site.
The U.S. has accused Russia of complicity in the crash, and European leaders have threatened to impose far reaching new sanctions against Moscow, sparking fears over the impact on global growth.
The loonie was lower against the euro, with EUR/CAD edging up 0.10% to 1.4536.