Dollar / Canada was able to complete yesterday, above the resistance in the area C $ 1.2340/50, which led to the positive mood in relation to a pair which from the beginning of a new day has verified the strength of orders for sale in area C $ 1.2420/30, while, at the time initially attempted to break above the bulls met fierce rebuff sellers, so far they have been steadily holes. News that the Bank of Canada lowered the overnight rate at 0.25% to 0.25%, expected by some market participants, but most turned out to be a surprise, with the central bank also announced its intention to extend the one-and three-month operation in the PRA (Purchase and Resale Agreements ) to six and twelve months. Meanwhile, pressure on the Canadian currency had and accelerating decline in oil prices, resulting in dollar / Canada was able to test the strength of Ofer in the area C $ 1.2510/00. Dealers noted that in this area was marked by fixing short-term profit accounts that support the correction of a pair of lower, and now the dollar / Canada is traded around C $ 1.2470. Nevertheless, they also report that attempts to reduce continued to attract buyers, and recommend to pay attention to the fact that the dollar / Canada today, managed to break above the trendline from March highs (C $ 1.2420), which implies a risk of continuing upward movement.
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