USD/CAD breaks down the 1.0360 support

FXstreet.com (San Francisco) - The US dollar is trading lower against its Canadian counterpart following the US housing data and just ahead of the BoC interest rate decision. In the latest few minutes, the USD/CAD fell 50 pips from 1.0400 to break previous lows at 1.0360 and test the 1.0350 area.

Currently the USD/CAD is trading around 1.0365, almost flat on the day. The short term perspective, however, is slightly bearish according to the FXstreet.com trend index in the 15minute charts.

Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is neutral in the 15 minutes charts too.