Canadian dollar (CAD), Daily Review, Feb 1 2009

By IBTimes Staff Reporter | February 01 2010 5:11 AM

The Canadian Dollar weakened versus the Dollar after investors turned to the safety of the U.S Dollar in order to hedge against declines in stocks and commodities. Overall, USD/CAD traded with a low of 1.0623 and a high of 1.0705. USD/CAD continues with it's uptrend and faces a major resistance level near 1.0745. RSI levels are high but still not in an oversold state. No economic data expected today.

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USD/CAD - Last: 1.0675

Resistance

1.0745

1.0780

1.0855

Support

1.0625

1.0555

1.0525

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