USD/CAD rockets above 1.0300

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USD/CAD rockets above 1.0300

FITITOL--> FXstreet.com (San Francisco) - The Dollar is rallying against its Canadian counterpart. After rising more than 100 pips from intra-day low at 1.0230, the USD/CAD has broken 1.0270 zone and has climbed above the 1.0300 level to reach 1.0340 as fresh highest level since June 8th.

The cross is now pricing at 1.0335, adding 0.85% gains so far today. The Pair looks "Slightly Bullish" and "Extremely Oversold" according to the FXstreet.com technical studies.

The technical analyst team at ICN.com identify the next resistance levels at 1.0350 and 1.0375. On the downside, an exposure of the 1.0250 price would initiate support in 1.0230 and then 1.0200.