However, “The USD/CAD provided another top below the previous set peak as provided on the chart. This is accompanied with the pair returning below the 0.9785 mark and the stochastic is trading negatively while RSI is trending below 50.” states the technical analyst team at ICN.com.
The technical analyst team at ICN.com posits the next resistances at 0.9825, followed by 0.9885 and 0.9900. On the decent, a prolonged decline will encounter supportive bastions located at 0.9755, then 0.9715 and ultimately 0.9680.
The pair has certainly been helped by the decline of crude oil Monday, which has recently traded in the area of USD $90.04, down a cool -1.98% on the day.