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Forex: USD/CAD tumbles to session lows at 1.0221/26

FXstreet.com (Barcelona) - The USD/CAD took a nasty spill off the 1.0243 handle earlier today, falling 20 pips during European trading to settle near session lows at 1.0221/26 in these moments. At this point, the cross is firmly entrenched in negative territory, down -0.27%.

According to the UBS Research Team, “The USD/CAD is under pressure this morning but does not change the bullish picture as long as support at 1.0189 holds on closing basis – resistance is at 1.0294 ahead of 1.0342.”

“The USD/CAD is around key support level of the sideways range that looks like the symmetrical triangle. Therefore, we prefer to remain neutral in the European session also waiting for confirmation signals.” notes the ICN.com analyst team.

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