Forex: USD/CAD flat around 1.0065/70

FXstreet.com (Barcelona) - The Loonie is gathering pace on Monday against its neighbour, appreciating from today's lows in the boundaries of the key level at 1.0100 to the current highs around 1.0065/70

According to the research team at TD Securities, "USDCAD's recent movement has been characterized by sharp gains and minor consolidations. We think that pattern may continue in the near-term as the market has shown little inclination to extend Friday's mini rally so far but the underlying trend here remains clearly biased higher. The market has made two attempts at the 1.01 area in the past day or so but a break higher remains elusive& We rather think that losses will remain limited to the 70/80 area intraday and that the market will move to extend the current rally towards 1.0130/40 shortly".

At the moment, the cross is up 0.01% at 1.0067 facing the next resistance at 1.0106 (high Jul.27) would aim for 1.0132 (low Jul.23) and then 1.0135 (61.8% of 1.0446-0.9633).
On the downside, support levels lie at 1.0057 (high Nov.16) en route to 1.0049 (Upper Bollinger) and finally 1.0036 (high Jan.24).