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USD/CAD rebounds off lows to 1.0358/61

FXstreet.com (Barcelona) - The USD/CAD rebounded off a session low of 1.0343 during European trading, recovering the mark of 1.0358/61 in these moments.

According to the ICN.com Technical Analyst Team, “The USD/CAD managed to rebound to the upside benefiting from stabilizing above 1.0300, however we are currently waiting for a prolonged stabilization, activating our positive expectations today.”

Despite the recent recovery, at the time of writing, the USD/CAD is still operating in negative territory down -0.13% Monday. Technically speaking, the Mataf.net analyst team points to support levels at 1.0312, onto 1.0265, and ultimately 1.0212. Alternatively, a thrust into positive territory will eventually drive the pair towards resistances at 1.0394, then 1.0429, onto 1.0476.

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