23 Dec 2013
USD/CAD bounces at 1.0580 and jumps to 1.0615
FXstreet.com (San Francisco) - The USD/CAD found support at 1.0580 as the pair finally stopped a 70 pips decline from 1.0650. The Dollar is recovering ground right now and currently it’s trading back at 1.0615.
The Dollar to Canadian Dollar exchange rate is performing 0.30% negative on the day. The short term perspective remains strongly bearish according to the fxstreet.com trend index in the 1-hour chart. MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
USD/CAD levels:
On the flip side, resistances are seen at 1.0630, 1.0652 (daily high) and 1.0670 (Dec 9 high). On the downside, supports are at 1.0580, 1.0575 and 1.0570 (Dec 16 low).
The Dollar to Canadian Dollar exchange rate is performing 0.30% negative on the day. The short term perspective remains strongly bearish according to the fxstreet.com trend index in the 1-hour chart. MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
USD/CAD levels:
On the flip side, resistances are seen at 1.0630, 1.0652 (daily high) and 1.0670 (Dec 9 high). On the downside, supports are at 1.0580, 1.0575 and 1.0570 (Dec 16 low).