USD/CAD reverses on Monday and rebounds from monthly lows. US Dollar Index finds support amid higher US yields. The USD/CAD pair bottomed earlier at 1.2469, the lowest level since March 19, and then turned sharply to the upside, rising more than sixty pips during the American session. Recently it peaked at 1.2539. It is hovering around 1.2535, up 30 pips for the day. The loonie is among the worst performers of the American session across the board. It hit fresh lows versus its main rivals. At the same time, the greenback trimmed losses supported by higher US yields. The 10-year yield climbed to 1.613%, the highest since April 15. Range with a bearish bias The USD/CAD continues to move with a bearish bias even after today’s rebound. The pair is back into the recent range after being unable to hold under 1.2500. On the upside, it is finding resistance at 1.2560 and the 20-day moving average. A close well under 1.2500 would open the doors for further losses, while above 1.2560 would expose the 1.2600. The next resistance is seen at April highs at 1.2635. Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD consolidates daily gains around 0.7750 FX Street 2 years USD/CAD reverses on Monday and rebounds from monthly lows. US Dollar Index finds support amid higher US yields. The USD/CAD pair bottomed earlier at 1.2469, the lowest level since March 19, and then turned sharply to the upside, rising more than sixty pips during the American session. Recently it peaked at 1.2539. It is hovering around 1.2535, up 30 pips for the day. The loonie is among the worst performers of the American session across the board. It hit fresh lows versus its main rivals. At the same time, the greenback trimmed losses supported by higher US yields. The 10-year… Regulated 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.
