FXstreet.com (Barcelona) - The Dollar rose yesterday to 1.1125, the highest level since July 20, to pull down to 1.1020 low. At the moment, the pair is trying to return to the upside and trades around 1.1060.
According to the Varengold Bank Research Team, the bullish bias seems to be loosing strength,m and a bearish reversal should not be discarded: The USD/CAD has been trading close to a bearish trend-line and broke through its support at 1.1464. At the moment it seems that the USD/CAD aimed the trend-line again and will try to leave the bearish market. Though the DMI Indicator shows that the bullish countermovement already loose power and if the bears could assume the control again before crossing the trend-line it may boost the downward trend once again.