Canadian Dollar (CAD), Daily Review, March 10 2010

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The Canadian Dollar continued gaining versus the Dollar reaching a 7 week high, after stocks kept advancing and Crude continued trading above 80$ a barrel. Overall, USD/CAD traded with a low of 1.0236 and a high of 1.0320. USD/CAD has been trading near yearly lows at 1.02. The downtrend is slowing down and could head to a reversal upwards. No major economic data expected today in Canada but Crude Inventories could have an effect on the currency.

USD/CAD - Last: 1.0270

Resistance

1.0330

1.0365

1.0410

Support

1.0235

1.0200

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