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Forex: USD/CAD nears daily lows

FXstreet.com (Córdoba) - The USD/CAD has had a volatile day as investors were not all that convinced to embrace commodity currencies after the sharp sell-off seen yesterday. However, as markets stabilized, the Loonie managed to accomplish gains versus its US counterpart during the New York session, following upbeat US and domestic data.

Despite a limited bounce, USD/CAD resumed the downward correction and it is currently trading around 1.0210, 0.4% below its opening price, having set a daily low of 1.0204 earlier on the day.

As for technical levels, immediate supports are seen at the 1.0205/00 area, followed by 1.0185 (20-day SMA), while resistances could be found at 1.0260 (intraday high) and 1.0285 (Mar 19 high).

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