The Canadian dollar could not stay immune to the influx of bad news from the old continent and continued falling against the greenback. USD/CAD broke another resistance level and continues rising sharply. Update. The better-than-expected manufacturing PMI in the US provided some good news for Canada as well. Stronger demand from the US helps the Canadian economy as well. Well, this wasn’t in the spotlight. The Greek crisis, which reached new heights, sent all “risky” assets down. A possible resignation of the Greek Prime Minister and a possible bankruptcy of the large European bank Dexia sent the US dollar higher, and the Canadian dollar reached new lows against it. See the European crisis recap for a summary of all the news. The price of oil also followed suit, and as an exporter of oil, the loonie just found another reason to fall. At 1.0540, USD/CAD is at the highest levels seen since September 2010. It paused around resistance at 1.0510, but not for long. The next serious line is 1.0677, which capped the pair more than once. Yes, a long time ago. Further above, 1.0750 is another hurdle. 1.0510 turns into minor support. 1.0373 is more significant. For more levels and events, see the Canadian dollar forecast. 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 AUD/USD Falls to One Year Low as Greek Default Nears Yohay Elam 11 years The Canadian dollar could not stay immune to the influx of bad news from the old continent and continued falling against the greenback. USD/CAD broke another resistance level and continues rising sharply. Update. The better-than-expected manufacturing PMI in the US provided some good news for Canada as well. Stronger demand from the US helps the Canadian economy as well. Well, this wasn't in the spotlight. The Greek crisis, which reached new heights, sent all "risky" assets down. A possible resignation of the Greek Prime Minister and a possible bankruptcy of the large European bank Dexia sent the US dollar higher,… 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.
