Forex: USD/CAD extends its downside, eyes on 1.0030

FXstreet.com (Barcelona) - The Canadian dollar continues to gather traction against its neighbor on Tuesday, dragging the cross towards the area around 1.0030 after yesterday's unsuccessful attempt to break above the key resistance at 1.0100

In the opinion of the research team at TD Securities, "A "shooting star" doji formed yesterday as the USD gave up all of the intraday gains and closed back near opening levels. The confluence of strongly trending bullish momentum signals across a range of timeframes tells us that downside risks for USDCAD should be limited from here& Still, a further sell-off over the balance of the session today would imply more downside risk to the mid/upper 0.99s at least".

The cross is now retreating 0.23% at 1.0039 with the next support at 1.0010 (hourly high/low Jan.24) ahead of 0.9986 (MA200d) and then 0.9968 (MA10d).
On the upside, a breakout of 1.0067 (Upper Bollinger) would clear the way to 1.0101 (high Jan.25) and 1.0106 (high Jul.27).