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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).

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