Most recently however, crude prices have fallen sharply in European trading, sapping the loonie of any momentum against its southern neighbor. At the present, the price of crude has settled at USD $84.73, down -2.85%.
Currently, the exchange rate is operating in the region of 1.0175, rising at a rate of +0.32% above its opening price. The pair stormed through its first support at 0.7996, After breaking resistance at 1.0170, the pair is pitted against short-term resistances located at the 1.0192 and 1.0227 levels. According to the technical analysts at Mataf.net, the pairs decline will be buoyed by supports at 1.0113, 1.0078, and ultimately 1.0056.