Forex: USD/CAD: Dollar bounce at 1.0795, reaches right below 1.0900

By @ibtimes on (Barcelona) - Dollar decline from Mondays high at 1.0990 has found support at 1.0795 low ahead of the European opening session, and the Dollar has bounced, approaching 1.0900 at the moment of writing.

In the 4 hour chart, the analysis team sees the Dollar biased to the upside, targeting 1.1080: we hold our morning expectations intact for the pair's upside directing over intraday and short term basis, targeting 1.1080 levels next. However, the daily closings must remain above the key support level at 1.0790 to maintain this upside direction.

Resistance levels, according to the analysis team, lie at 1.0905, 1.0970 and 1.1045. On the downside, support levels are 1.0850, 1.0790 and 1.0765.


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