USD/CAD dips to fresh lows

FXstreet.com (Córdoba) - Despite the cautious mood among financial markets, the CAD has managed to advance against the USD during the European session.

USD/CAD turns negative

USD/CAD found resistance and pulled back from a 1-week peak of 1.0558 toward the 1.0520 zone where the 100-hour SMA offered support. USD/CAD is currently trading around 1.0525, recording a 0.2% loss on the day.

USD/CAD supports and resistances

As for technical levels, USD/CAD could face immediate supports at 1.0520 (100-hour SMA) and 1.0500 (psychological level), while resistances are seen at 1.0558 (daily high) and 1.0575 (Jul 9 high).