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Forex: USD/CAD stuck at 1.0163/65

FXstreet.com (Barcelona) - The USD/CAD fell big earlier today during US trading following the release of Canadian CPI data, however the cross managed to make a recovery attempt that stalled at 1.0175 recently. Following this reversal, the pair reverted back to familiar ground near opening levels at 1.0163/65 in these moments.

In the United States, EIA Crude Oil Stocks change (March 22) came in at 3.256M, against expectations of just 1.500M. With regards to the CAD, the price of crude is trading at USD $95.84/bbl, following a failure to stabilize above 96.00.

According to the ICN.com analysts, corrective measures of support lie ahead at 1.0185, then 1.0140, and finally the 1.0100 barrier. Conversely, resistances for the USD/CAD will initiate at 1.0200 onto 1.0215 and ultimately 1.0260.

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