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

By @ibtimes on

FXstreet.com (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 ecPulse.com 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 ecPulse.com 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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