A mixture of a run to a surplus and the drop in US exports has helped USD/CAD back through pivotal S&R at 1.0950 and further away from the days highs at 1.0986 and offers ahead of a suspected barrier at 1.1000
There’s a marginal level of support around here at 1.0940 with better at 1.0900/05
USD/CAD Daily chart 06 08 2014
I favour dip buying in the pair intraday as the US dollar isn’t giving up most of the gains just on poor data. Just ahead of 1.0900 looks like the best place to dangle some bids in the water.
