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25 Mar 2013
Forex: USD/CAD in 2-week lows below 1.0200
FXstreet.com (Barcelona) - The Canadian dollar is markedly advancing against its fellow neighbour on Monday, dragging the cross to 2-week lows in sub 1.0200 levels.
“With domestic developments still unfolding softly and external risks geared to downside at the moment, there do not appear to be many catalysts for a much of a deeper CAD rebound in the coming weeks”, writes Greg Moore, FX Strategist at TD Securities.
At the moment, the cross is down 0.38% at 1.0195 facing the next support at 1.0181 (low Mar.15) followed by 1.0160 (low Feb.22) and then 1.0055 (low Feb.18).