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Forex: USD/CAD flat around 1.0255/60

FXstreet.com (Barcelona) - The Canadian dollar is trading almost unchanged against its neighbour at the beginning of the week, hovering over the area of 1.0255/60.

In the opinion of G.Moore, Strategist at TD Securities, both softer commodity prices and the tepid inflation environment would weight on the CAD. “With those key issues in mind we now foresee a more sustainably weaker CAD and have lowered our forecasts accordingly”, concluded the expert.

USD/CAD is now losing 0.02% at 1.0254 with the next support at 1.0205 (MA10d) ahead of 1.0203 (low Apr.16) and then 1.0184 (MA21d).
On the upside, a break above 1.0295 (high Apr.17) would aim for 1.0315 (high Mar.8) and finally 1.0329 (high Mar.7).

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