Forex: USD/CAD recovers the mark of 1.0260/62

FXstreet.com (Barcelona) - The USD/CAD has emerged out of a second trough today during US trading, after an attempt at the downside was fortified at the 1.0242 region. However in recent minutes, the cross has pared a portion of its losses, thereby lifting it up towards the 1.0260/62 level, where it resides presently. Despite this movement higher, however, the pair is still trading negatively, operating -0.14% off its opening.

The Fed kept interest rates held at 0.25% earlier today, while reiterating its commitment to bond buying purchases. With concerns to the CAD, the price of crude has moved higher during American trading to settle at USD $93.27/bbl.

According to the Matat.net Analyst Team, the USD/CAD will face calculated support at 1.0227, ahead of 1.0187, and ultimately 1.0158. On the ascension, a break above 1.0296 will activate resistances at 1.0325 and 1.0365.