FXstreet.com (Barcelona) - The Dollar has finally broken the MA55 hourly chart level at 1.0490 against the Canadian and pair has jumped strongly to test 1.0550 level in the last hour. Currently the pair is trading around 1.0530/40, 0.90% above today's opening price action.

USD/CAD has continued today's European morning with its recovery from 3-week low at 1.0415 reached today's Asian session.

Ian Coleman, analyst at Turtle Futures, comments about the USD/CAD daily: We have stopped around 61.8% of the last move up (10453). Nothing to suggest a trend change yet. 1HR: Bit of a different picture. We have broken the trend line. Made a new high. Broken the main MA. All indicators are positive. I would look to gong long with a stop below the low (10414). First target 1.0581.

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