FXstreet.com (Barcelona) - The Canadian Dollar has declined mildly after the Bank of Canada's rate cut, the ActionFores.com Technical team affirms that the USD is bullish on the intraday bias: USD/CAD's rebound from 0.9709 is still in progress and extends further slightly higher to 0.9941 in early US session. Intraday bias is still on the upside as long as 0.9824 minor support holds. The ActionForex team warns about resistance level at 0.9982: However, as discussed before, we're still treating this rebound as a correction in the short term down trend only, hence, upside is expected to be limited by 0.9982 resistance. ON the downside, below 0.9824 will turn intraday bias back to the downside for 0.9709 low and break will confirm whole decline from 1.0378 has resumed.
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