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9 Jun 2014
USD/CAD falls to 1.0900
FXStreet (Córdoba) - The USD/CAD moved all day with a downside bias and bottomed before Wall Street opening bell at 1.0900, reaching the lowest price since last Tuesday.
The US dollar found support around 1.0900 and the pair bounced slightly to the upside. Currently trades at 1.0908, down 0.20% for the day.
USD/CAD technical outlook
After peaking last Thursday at 1.0959 the pair started to move with a downside bias in the short term. To the upside an important resistance currently stands at 1.0925/30, where an hourly downtrend line is crossing. Above, the US dollar could gain momentum.
Below 1.0900 support levels might lie at 1.0890 (June 3 low) and then 1.0865 (May 30 high).
The US dollar found support around 1.0900 and the pair bounced slightly to the upside. Currently trades at 1.0908, down 0.20% for the day.
USD/CAD technical outlook
After peaking last Thursday at 1.0959 the pair started to move with a downside bias in the short term. To the upside an important resistance currently stands at 1.0925/30, where an hourly downtrend line is crossing. Above, the US dollar could gain momentum.
Below 1.0900 support levels might lie at 1.0890 (June 3 low) and then 1.0865 (May 30 high).