8 Apr 2014
USD/CAD finds support at 1.0915, back to 1.0935
FXStreet (San Francisco) - After falling around 55 pips in the European session from 1.0970 to trade at lows since February 19 at 1.0915, the USD/CAD seems to have found support at this level as the pair is testing back the 1.0945 area to the upside.
The Canadian dollar is taking profit of the US dollar bearish environment as the USD/CAD is declining 0.31% on the day, having posted a daily high at 1.0979 and low at 1.0915.
USD/CAD spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
Levels to watch
If the pair holds above the 1.0925, it would face resistances at 1.0961 (Yesterday's Low) and 1.0975 (Monthly Low). On the downside, supports are at 1.0915 and 1.0898 (Daily 100 SMA).
The Canadian dollar is taking profit of the US dollar bearish environment as the USD/CAD is declining 0.31% on the day, having posted a daily high at 1.0979 and low at 1.0915.
USD/CAD spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
Levels to watch
If the pair holds above the 1.0925, it would face resistances at 1.0961 (Yesterday's Low) and 1.0975 (Monthly Low). On the downside, supports are at 1.0915 and 1.0898 (Daily 100 SMA).