Canadian dollar (CAD), Daily Review, August 23rd 2010

23 August 2010 @ 05:58 am EDT

The Canadian Dollar weakened to the lowest level in a month versus the Dollar after a report of Core CPI showed negative data in July, came lower than the forecast (-0.1% vs. 0.1), led the investors to sell the Canadian currency. As long the USD/CAD above 1.0450 levels a long position is preferred, the next resistance on the one hour chart is located at 1.0520 if the price cross this level the trend will continue to be bullish. Overall, USD/CAD traded with a low of 1.0382 and with a high of 1.0515. No economic data expected today.

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