Back
27 Apr 2015
USD/CAD hits a fresh 3-month low
FXStreet (Córdoba) - USD/CAD resumed the decline and dropped marginally below last week lows and recently hit at 1.2080, the lowest level since January 21.
USD/CAD reverses near 1.2200
The pair approached during the European session to 1.2200 but lost strength and started to decline. Recently broke below 1.2145 and accelerated the decline. Currently the pair is hovering around 1.2100, down 0.55% for the day, headed toward the lowest close in three months.
A weak US dollar and a recovery in crude oil prices pushed the pair to the downside. So far the area around 1.2080 capped the decline, but USD/CAD still faces bearish pressure.
USD/CAD reverses near 1.2200
The pair approached during the European session to 1.2200 but lost strength and started to decline. Recently broke below 1.2145 and accelerated the decline. Currently the pair is hovering around 1.2100, down 0.55% for the day, headed toward the lowest close in three months.
A weak US dollar and a recovery in crude oil prices pushed the pair to the downside. So far the area around 1.2080 capped the decline, but USD/CAD still faces bearish pressure.