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Forex: USD/CAD peaks to 1.0165 but rejects and falls to 1.0130

FXstreet.com (San Francisco) - The US dollar is currently trading lower against its Canadian counterpart and after reaching the 1.0165, highest since April 1st, the USD/CAD has been rejected at this level with the pair falling hard to break down the 1.0140 and trade at intra-day lows at 1.0130.

Currently the pair is trading at 1.0140, almost flat on the day but slightly bearish according to the FXstreet.com trend index. Indicators such as CCI and Momentum are bearish while the MACD and Stochastis are neutral in the 1hour chart.

Below the 1.0130, next supports are at 1.0124 April 1nd and 3rd double bottom, then 1.0100, January 25th and 28th. resistances are at 1.0165, 1.0180 and 1.0200.

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