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Forex: USD/CAD flat around 1.0260

FXstreet.com (Barcelona) - The positive data from the Canadian retail sales during February, rising 0.8% on a monthly basis, sparked a rally that dragged the cross to the boundaries of 1.0250, although bouncing later to levels below 1.0270.

“The USD has struggled to make much headway through the upper 1.02 region in the past week so the risk of some short-term, corrective pressure back to the low 1.02 area may build near-term. We doubt that near-term downside potential extends much beyond that, however”, assessed S.Osborne and G.Moore, Strategists at TD Securities.

At the moment, the cross is up 0.03% at 1.0260 with the next resistance at 1.0286 (high Apr.22) followed by 1.0295 (high Apr.17) and finally 1.0315 (high Mar.8).
On the other hand, a breach of 1.0248 (low Apr.22) would bring 1.0217 (MA10d) and then 1.0210 (low Apr.17).

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