OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: USD/CAD tests 1.0160

FXstreet.com (San Francisco) - The US dollar is trading lower today's session against its Canadian counterpart and after falling around 25 pips from the 1.0175, the USD/CAD has traded at 1.0158, fresh lowest level since February 22nd. In this line, the pair is extending losses in the day from 1.0210 opening region and testing the 1.0160 key level.

With 0.52% losses on the day, the pair is slightly bearish according to the FXstreet.com Forex Studies. MACD, CCI and Momentum are bearish while the Stochastic indicator is bullish.

A breakdown of 1.0160 (low Feb.22) would bring 1.0055 (low Feb.28) and finally 0.9995 (high Feb.5).
On the upside, resistance levels line up at 1.0257 (MA21d) ahead of 1.0315 (high Mar.8) and then 1.0329 (high Mar.7).

Wall Street rises despite bad US data and Cyprus

The US stocks market traded higher on Tuesday as market didn't pay much attention to the lower-than-expected US consumer confidence and retracements in the housing data. The Dow surged to new all-time high.
Read more Previous

Session recap: EUR/USD trades in range while USD declines against AUD and CAD

The US Dollar was trading lower on the day except, obviously, against the Euro. The Cypriot crisis has capped any euro progress attempt and the EUR/USD traded in range between 1.2840 and 1.2880 in the while Tuesday session. But against commodity currencies such as the Aussie and the the Loonie.
Read more Next
Start livechat