Canadian dollar (CAD), Daily Review, July 29th 2010

29 July 2010 @ 05:29 am EDT

The Canadian Dollar weakened against the Dollar after a drop in crude oil prices increased speculation demand will wane for currencies of nations that are dependent on commodities for growth. As long the USD/CAD below 1.0450 levels the momentum is bearish, the next support is located at 1.0240. Overall, USD/CAD traded with a low of 1.0298 and with a high of 1.0390.

USD/CAD - Last: 1.0363

Resistance

1.0395

1.0440

1.0505

Support

1.0300

1.0255

  

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