Canadian dollar (CAD), Daily Review, July 28th 2010

28 July 2010 @ 09:42 am EDT

The Canadian Dollar weakened against the U.S Dollar and all majors as oil prices dropped rapidly. Oil is one of Canada's most valuable export products, and rapid changes in its price affect the currency. The pair reversed around important support levels on the daily chart and a retracement up is possible for the days to come. Overall, USD/CAD traded with a low of 1.0254 and with a high of 1.0393. No economic data is expected for today.

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