Since the Asian session, the loonie has been under siege, characterized by a collapse in crude prices to the tune of -2.19%, settling at USD $89.82 at the time of writing. In the absence of any groundbreaking news or economic results emanating out of the United States and Canada later today, the deteriorating situation in Europe will continue to be a paramount focus in the markets Monday.
At the present, the cross is operating in the region of 1.0166, notching a solid gain of +0.25% on the day. The technical analyst team at Mataf.net highlights the next resistance levels at 1.0174, 1.0201, and ultimately 1.0253. Briefing a reversal and subsequent decline, the pair will encounter supports at 1.0095, 1.0043, and finally 1.0016.
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