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Forex: USD/CAD in red around 1.0250/55

FXstreet.com (Barcelona) - The Canadian dollar is advancing against the greenback on Thursday, hovering over 1.0250/55 in a context favourable to the risk-associated assets so far.

“Corrective pressure may extend a little lower in the near-term to the low 1.02 area but we continue to believe that the broader trend here is higher and that modest dips remain a buying opportunity. Trend indicators continue to suggest a deeply entrenched bull move”, assessed analysts at TD Securities.

USD/CAD is now losing 0.12% at 1.0252 and a breakdown of 1.0210 (low Apr.17) would clear the way to 1.0186 (MA10d) and finally 1.0181 (MA21d).
On the flip side, resistance levels line up at 1.0295 (high Apr.17) ahead of 1.0315 (high Mar.8) and then 1.0329 (high Mar.7).

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