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Forex: USD/CAD hovering over 1.0200

FXstreet.com (Barcelona) - The Canadian dollar continues to trade on the back foot against its neighbour on Thursday, prolonging the weekly decline to levels above the key resistance at 1.0200 from last week’s lows around the parity level.

Light Canadian docket ahead, with the Foreign/Canadian Portfolio Investment figures for the moth of March ahead of the more relevant BoC Review due later.

As of writing, the cross is advancing 0.33% at 1.0193 facing the next hurdle at 1.0229 (76.4% of Apr-May fall) followed by 1.0258 (high Apr.25) and finally 1.0286 (high Apr.22).
On the downside, a drop below 1.0153 (MA21d) would open the door to 1.0099 (MA10d) and then 1.0090 (low May 14).

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