Forex: USD/CAD recovers slightly, trades at 1.0029
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USD/CAD
FXstreet.com (Barcelona) - After bottoming out at 1.0009 (intraday min) earlier this afternoon during European trading Friday, the USDCAD has staged a recovery attempt, rising 20 pips in these moments. Ahead of the release of some very important economic indicators in the United States, the greenback has continued to feel the downward pressure today, hurt especially by the price of crude oil.
The tendrils of risk appetite have slowly choked the market today, lifting the commodity bloc currencies, with the loonie being no exception. At the time of writing, the price of crude is being traded in the region of USD $88.29, which marks an advance of 1.33%.
In terms of technical levels, the pair presently trades at 1.0029, which constitutes a drop of -0.44% since its opening earlier today. The technical analysts at Mataf.net identify the next short-term measures of support at 1.0016, then 0.9967, and finally 0.9933. On the ascension, a penetration of 1.0099 will initiate resistances at 1.0133 and 1.0182.
The tendrils of risk appetite have slowly choked the market today, lifting the commodity bloc currencies, with the loonie being no exception. At the time of writing, the price of crude is being traded in the region of USD $88.29, which marks an advance of 1.33%.
In terms of technical levels, the pair presently trades at 1.0029, which constitutes a drop of -0.44% since its opening earlier today. The technical analysts at Mataf.net identify the next short-term measures of support at 1.0016, then 0.9967, and finally 0.9933. On the ascension, a penetration of 1.0099 will initiate resistances at 1.0133 and 1.0182.
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