Forex: USD/CAD retreats from highs, now at 0.9870

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Forex: USD/CAD retreats from highs, now at 0.9870

FITITOL--> FXstreet.com (San Francisco) - After reaching intra-day high at 0.9893, the USD/CAD has begun to retreat to levels close to 0.9870, after that, the Dollar has been trading in consolidation mode against the Loonie between 0.9870 and 0.9880.

Currently the pair is pricing at 0.9873, 0.65% above today's opening price action. FXstreet.com Technical Studies are showing a "Strongly Bearish" and "Overbought" pair.

Next resistance at 0.9880 (high Apr.25) followed by 0.9928 (MA21d) and 1.0012 (high Apr.17). On the flip side, a breakdown of 0.9800 (low Apr.27) would bring 0.9780 then 0.9766 (low Sep.19) and 0.9755 (low Sep.1).