FXstreet.com (Barcelona) - The Dollar has weakened against its Canadian counterpart on rumours about Russia adding the Canadian Dollar to its foreign reserves, and decline from 1.0733 high on Friday has extended to a fresh one-week low at 1.0450.

According to the ecPulse.com analysis team, the pair could dip lower, targeting 1.0390: We think that the bearish short term direction is complete, where we presently await more bearish movement for today; meanwhile, chances of some fluctuations is high, specifically when reaching the main support at 1.0390 before being able to breach it and head towards the following targets.

Support levels, according to the ecPulse.com analysis team lie at 1.0425, 1.0390 and 1.0325. On the upside, resistance levels lie at 1.0500, 1.0590 and 1.0640.