FXstreet.com (San Francisco) - The USD/CAD has been unable to break up the 0.9900 level in the last hour and after testing this number, the USD/CAD has fallen to break previous lows at 0.9880 and to reach fresh lowest level since May 4th at 0.9878.

Currently the USD/CAD is pricing at 0.9883, 0.12% below opening price action. “USD/CAD has failed to hold its hourly support at 0.9905. Further weakness towards 0.9800 is favored”, wrote MIG Bank analyst Bijoy Kar.