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3 Jun 2014
USD/CAD bounces at 1.0905 and resumes its 1.0920 testing
FXStreet (San Francisco) - The USD/CAD traded higher all over the European session from 1.0890 to recover the 1.0900 area and to test highs since May 22 at 1.0920 where the pair was rejected down to 1.0905.
However the USD/CAD found renewed buy interest and it bounced back to test the 1.0920 again. Currently, USD/CAD is trading at 1.0914, up 0.13% on the day, having posted a daily high at 1.0923 and low at 1.0887.
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bullish.
USD/CAD sentiment
If the pair manages to break above the 1.0920, the USD/CAD would face further resistances at 1.0930 and 1.0940. On the downside, supports are at 1.0905, 1.0890 and 1.0880.
However the USD/CAD found renewed buy interest and it bounced back to test the 1.0920 again. Currently, USD/CAD is trading at 1.0914, up 0.13% on the day, having posted a daily high at 1.0923 and low at 1.0887.
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bullish.
USD/CAD sentiment
If the pair manages to break above the 1.0920, the USD/CAD would face further resistances at 1.0930 and 1.0940. On the downside, supports are at 1.0905, 1.0890 and 1.0880.