Canadian dollar (CAD)

The Canadian Dollar gained for the first time in 3 days as investors' appetite for higher-yielding currencies rose following rises in stocks and better than expected employment data from Australia. The USD/CAD is on a clear downtrend which is consistent with the RSI. As long as USD/CAD remains below 1.0420 a short position is preferred but traders should watch oversold conditions that starting to appear. Overall, USD/CAD traded with a low of 1.0289 and with a high of 1.0411. No economic data expected today.

CAD/USD - Last: 1.0298

Resistance

1.0360

1.0395

1.0415

Support

1.0290

1.0250

USDCAD