FXstreet.com (Barcelona) - The Dollar has fallen around 70 pips against the Canadian from intra-day high at 1.0766 to test 1.0700 level. Currently the pair is trading around 1.0700/10, 0.50% above today's opening price action.
Pair has capped at 1.0766 its recovery from 11-month low at 1.0590 and currently it is trading in consolidation mode above 1.0700.
The ecPulse.com analysis team comments: The Dollar versus Loonie pair inclined to reach the 10.670 level where it is currently trading around it as the pair lost the bullish momentum it acquired resulting in the stochastic indicator to give signs of a possible bearish crossover that supports our outlook to the downside on the intraday basis after reversing from the 1.0670 level to target 1.0500 initially and extend declines towards 1.0000. This decline remains as far as 1.0900 is intact.