FXstreet.com (Barcelona) - The USD has moved slowly but steady against its Canadian counterpart, from daily low at 1.2395 breaking resistance level at 1.2450 in Early U.S session, to reach as high as 1.2487 before dropping back to test 1.2450 support.

If 1.2450 holds, the USD could attempt a rally to 1.2550 (Feb 12 high) on its way to higher levels at 1.2768 (Jan 21 high). On the downside, failure to remain above 1.2450 would increase selling pressure towards previous support level at 1.2270 and below there 1.2016 (Jan 28 low).