The Dollar jumped across the board in the last hour as stocks decline in Wall Street and Europe and gold retreats sharply. USD/CAD rose 70 pips in 30 minutes and moved away from multi-year lows. Greenback jumped from 0.9420 to 0.9490, reaching the strongest levels in two days.
To the upside, immediate resistance lies at 0.9495/00 and above at 0.9520/25 (July 22, 25 highs) while support could be located at 0.9440 and below at 0.9400/05 (July 26 low).
The Loonie weakened in the market as crude oil tumbled to $97.30 a barrel, following a reported that showed an increase in inventories. CAD/CHF plummeted from 0.8505 to 0.8434, 4-week low while NZD/CAD jumped to 0.8257, hitting a fresh 4-year high.
To the upside, immediate resistance lies at 0.9495/00 and above at 0.9520/25 (July 22, 25 highs) while support could be located at 0.9440 and below at 0.9400/05 (July 26 low).
The Loonie weakened in the market as crude oil tumbled to $97.30 a barrel, following a reported that showed an increase in inventories. CAD/CHF plummeted from 0.8505 to 0.8434, 4-week low while NZD/CAD jumped to 0.8257, hitting a fresh 4-year high.
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