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FXstreet.com (San Francisco) - The Dollar is trading higher today against its Canadian counterpart following the FOMC minutes early release. After rising around 20 pips in the last hour from 1.0145, the USD/CAD has tested the 1.0165 level. Currently the pair is trading at 1.0160.
The USD/CAD is almost flat on the day but it's strongly bearish according to the FXstreet.com's trend index. Indicators are bearish as MACD, CCI and Momentum are pointing south while the Stochastic is neutral in the 1-hour chart.
Briefing the technical levels, the technical analyst team at ICN.com analyst team points to supports at 1.0140 onto the 1.0100 barrier, and ultimately 1.0075. Alternatively, a movement higher will enable resistances at 1.0185, ahead of the upside barrier at 1.0200, and finally 1.0215.
