USD/CAD bounces hard and trades back at 1.0650

FXstreet.com (San Francisco) - The USD/CAD made a short trip to sub 1.0600 levels in the American opening but after falling around 75 pips from 1.0660, the pair tested the 1.0587, fresh lowest since December 23, and bounced back to previous prices.

Currently, the USD/CAD is trading at 1.0650, now flat on the day. The short term perspective is now slightly bullish according to the FXstreet.com trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish.

USD/CAD levels

The pair would face immediate resistance at 1.0660 ahead of 1.0700 and 1.0725. On the downside, supports are at 1.0580, 1.0570 and 1.0560.