USD/CAD falls to daily lows

FXstreet.com (Córdoba) - The USD/CAD extended its slide during the American afternoon and turned intraday negative, as the greenback weakened across the board.

USD/CAD back below 1.0500

Despite the risk-off mood and broad losses in US stocks, USD/CAD failed to consolidate gains and fell back below the 1.0500 mark toward fresh daily lows. At time of writing, USD/CAD is trading at the 1.0485/90 zone, 0.1% below its opening price, having hot a trough of 1.0483.

USD/CAD technical levels

On the downside, if USD/CAD breaks below 1.0483, next supports are seen at 1.0470 (Aug 22 low) and 1.0420 (10-day SMA). On the upside, next resistances might be faced at 1.0510 (100-hour SMA) and 1.0540 (daily high).