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Forex: USD/CAD stabilizes around 1.0200

FXstreet.com (Barcelona) - The Canadian dollar is posting gains against its fellow neighbour on Friday, extending its correction from yesterday’s lows in the boundaries of 1.0280 on solid jobs data from the US economy.

The CAD has followed its risk-associated peers on Friday, dragging the cross to the area of 1.0180 after softer-than-expected consumer sentiment from the Reuters/Michigan index and higher inflation figures in the American economy.

At the moment the cross is down 0.28% at 1.0194
Next support levels align at 1.0160 (low Feb.22) followed by 1.00998 (Lower Bollinger) and then 1.0055 (low Feb.18).
On the upside, a breakout of 1.0231 (MA21d) would aim for 1.0267 (MA10d) and finally 1.0315 (high Mar.8).

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