USD/CAD Bounces Off Trendline Support; 0.9750 is a Critical Pivot

The decline yesterday in the USD/CAD followed a BOC statement that the market interpret as hawkish.

This bearish action is so far contained and supported by a rising trendline seen in the daily chart above. Note that the market in the medium to long term is still bearish, as the market

Source: ActionForexall Rss Feed

Dollar Bounces Back as Commodities Collapse, NFP on Tap

The Dow Jones FXCM Dollar Index surged as steep declines in commodities and equities had traders flocking back to the greenback. Meanwhile, traders quickly turned on the euro as prospects for a June rate-hike diminished.