Filed Under:
Forex pairs in this Article » USD/CAD
FXstreet.com (Córdoba) - The dollar advanced versus its Canadian counterpart, as despite the slight improvement in risk appetite, the Loonie continues to underperform on Monday.

Having bounced from a 3-month low of 0.9814 scored last Friday, USDCAD extended its recovery toward a high of 0.9863, before the 200-hour EMA capped the rise. At time of writing, USDCAD is trading at the 0.9850 zone, 0.1% above its opening price.

"The CAD has lagged behind its commodity peers over the past week and essentially remains range-bound against the USD", says the TD Securities team. "We think the near-term bias is lower and look for intraday gains to remain capped in the mid 0.98s now. Above here allows for a retest of the 0.9880 area. Support is 0.9775/00".
comments powered by Disqus