Forex | Forex | Forex: USD/CAD recovery stops at 1.1220 and falls below 1.1170 (16/07/2009 12:29:00)

Forex: USD/CAD recovery stops at 1.1220 and falls below 1.1170

FXstreet.com (Córdoba) – The Canadian Dollar is regaining the downside again. USD/CAD recovery failed to break above 1.1220 and weakened. The pair started to fall and recently reached levels below 1.1170 suggesting that CAD could get stronger in the next hours. On the downside the next support is lies at 1.1110 (below July 15 low) and 1.1060. At intra-day high at 1.1220 and 1.1275 we located the resistance levels.

According to James Hyerczyk of ForexHound.com weakness in gold and crude oil could put selling pressure on the Canadian Dollar.

For more information, read our latest forex news.


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