The Canadian dollar is rebounding from the lows. After already hitting 1.20 earlier in the week, USD/CAD is now trading around 1.1820. The most recent move up comes with a rebound in oil prices and as other commodity currencies, the Aussie and the kiwi, are moving back up. Dollar/CAD found support at 1.18 and broke 1.1890 on the quick way down. Further support appears at 1.17. Here is how the recent fall looks on the 30 minute chart: Have oil prices bottomed out after dipping below $45? WTI now trades at around $49. Production seems to be going on as usual in North Dakota and in Saudi Arabia, but markets are never a one way street, and after a big fall, they are rebounding. In Australia, strong employment figures boosted the currency, after it was hit by falling copper prices. The New Zealand dollar is also looking good. These moves happen as the focus of the markets is on the shocking move by the Swiss National Bank: the SNB removed the 1.20 floor under EUR/CHF, sending the Swiss franc screaming higher. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next US PPI looks OK, Empire State jumps, jobless claims Yohay Elam 7 years The Canadian dollar is rebounding from the lows. After already hitting 1.20 earlier in the week, USD/CAD is now trading around 1.1820. The most recent move up comes with a rebound in oil prices and as other commodity currencies, the Aussie and the kiwi, are moving back up. Dollar/CAD found support at 1.18 and broke 1.1890 on the quick way down. Further support appears at 1.17. Here is how the recent fall looks on the 30 minute chart: Have oil prices bottomed out after dipping below $45? WTI now trades at around $49. Production seems to be going on as… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
