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Forex: USD/CAD recovers the mark of 1.0170/72

FXstreet.com (Barcelona) - The USD/CAD has oscillated in a rather narrow consolidation Monday, having spanned only 31 pips (1.0155 – 1.0186). After recently rebounding off of a session low, the pair is now trading at 1.0170/72, incurring a loss of -0.09%.

According to analysts at TD Securities, “The market still looks more inclined to sell USD rallies at the moment – however selling pressure may be moderating. Intraday, weakness below 1.0050/55 may see the USD/CAD slip back towards 1.0100. We think levels below 1.0100 are a buying opportunity.”

The technical analyst team at Mataf.net points to supports at 1.0119, down to 1.0067, and finally 1.0009. On the ascension, a break above 1.0229 will initiate resistances at 1.0287 and finally 1.0339.

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