23 July 2014, 18:00  USD/CAD tested the 1.0710 key leve

The USD/CAD tested the 1.0710 key level post Canadian retail sales data but the pair bounced there and now it is trading back around 1.0730. Currently, USD/CAD is trading at 1.0726, down 0.11% on the day, having posted a daily high at 1.0744 and low at 1.0709. USD/CAD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish. If the pair manages to break above 1.0725, next resistances are at 1.0760 and 1.0790. On the donwside, supports are at 1.0710, 1.0690 and 1.0625.

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