Forex: USD/CAD advances further to trade above the 1.0275 level

FXstreet.com (San Francisco) - The US dollar is trading higher today's session against its Canadian counterpart following the upbeat housing data in the United States. The USD/CAD has risen around 50 pips in the American session to break above the 1.0250 level and reach highest level since March 13th at 1.0280.

Currently the USD/CAD is trading at 1.0275, 0.72% below opening price. The pair is trading inside a slightly bearish trend according to the FXstreet.com Forex Studies. CCI, Momentum and MACD indicators are bearish while the Stochastic is bullish in the 1-hour timeframe.

Above the 1.0275 level, the pair will face resistances at 1.0285 and 1.0295 before the 1.0300 frontier. On the downside, USD/CAD will find supports at 1.0250, 1.0225 and 1.0205.