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USD/CAD bounces back to daily high at 1.0361/67

FXstreet.com (Barcelona) - The USD/CAD has been far more active Tuesday, bouncing recently off the 1.0342 level during European trading to move towards session highs (1.0369).

In these moments, the pair is securing an advance of +0.15% above its opening and operating at 1.0361/67 Technically speaking, Mataf.net analysts calculate resistive measures for the USD/CAD at 1.0375, onto 1.0392, and ultimately 1.0423. On the decline, a break below the 1.0327 handle will initiate support at 1.0296 and 1.0279.

According to the ICN.com Technical Analyst Team, “The USD/CAD consolidated above the 1.0270 level, which is supported by its linear regression indicators. Moreover, the pair is moving within an ascending channel towards more bullishness during this week to test the channel's main resistance around 1.0430. Failing to stabilize above 1.0430 might cause a minor bearish correction before extending positivity.”

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