The Canadian Dollar continued declining versus the Dollar as global stocks continued declining after Germany's naked short selling ban, which lowered risk appetite. Overall, USD/CAD traded with a low of 1.0385 and a high of 1.0538. USD/CAD continues upwards after touching the 78.60% Fibonacci retracement of the upward movement it started in mid April. The pair is located near its 200 day moving average which is likely to act as a resistance and detain the pair's upward movement around 1.0450. Today, Leading Index is expected with 0.7% versus 1% prior.

USD/CAD - Last: 1.0440

Resistance

1.0540

1.0600

Support

1.0400

1.0310

1.0250

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