USD/CAD trims daily losses

FXstreet.com (Córdoba) - The USD/CAD bounced from lows and trimmed losses in recent dealings, as the strong slump found support just below 1.0200.

USD/CAD bottomed out at 1.0197 and managed to regain around 70 pips before the 1.0270 zone capped the recovery. At time of writing, USD/CAD is trading at the 1.0260 zone, still down 0.8% on the day.

As for technical levels, on the downside supports are seen at the 1.0200/97 area (psychological level/daily low) and 1.0165 (100-day SMA), while on the upside, immediate resistances are seen at 1.0270 (intraday level) and 1.0300.