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FXstreet.com (Barcelona) - The greenback is continuing its four-day slide versus the Canadian dollar during today's European session to mark a three-week low at 1.0471. This low is found in a key support and resistance area for the USD/CAD in recent trading.
According to Fan Yang, analyst for CMS Forex, with the pair below 1.0480, the Loonie has an opportunity to "extend gains" versus the American dollar.
Support levels are now at 1.0450 and then 1.0400 with resistance coming into play at 1.0545, 10575 and 1.0610.
Forex: USD/CAD hits 3-week low at 1.0471
Posted 2/15/2010 7:56 AM ET by from FXstreet.com
According to Fan Yang, analyst for CMS Forex, with the pair below 1.0480, the Loonie has an opportunity to "extend gains" versus the American dollar.
Support levels are now at 1.0450 and then 1.0400 with resistance coming into play at 1.0545, 10575 and 1.0610.
