FXstreet.com (Córdoba) - The Canadian dollar weakened further versus the greenback amid news that BoC Governor will step down roughly a year and a half before his tenure ends to take up on the Bank of England top position.
The CAD was already under mild pressure given the negative tone in stocks, and extended losses on the news with the USD/CAD reaching a high of 0.9959. At time of writing, USD/CAD is trading at the 0.9945 zone, 0.2% above its opening price.
As for technical levels, immediate resistances are seen at 0.9981 (21 DMA), 0.9990 (Nov 20/21 highs), and 1.0000 (psychological level). On the downside, supports could be found at 0.9930 (20-hour SMA), 0.9900 (psychological level). and 0.9880 (55 DMA).
The CAD was already under mild pressure given the negative tone in stocks, and extended losses on the news with the USD/CAD reaching a high of 0.9959. At time of writing, USD/CAD is trading at the 0.9945 zone, 0.2% above its opening price.
As for technical levels, immediate resistances are seen at 0.9981 (21 DMA), 0.9990 (Nov 20/21 highs), and 1.0000 (psychological level). On the downside, supports could be found at 0.9930 (20-hour SMA), 0.9900 (psychological level). and 0.9880 (55 DMA).
