Apr 15, 2021 15:51 GMTFXStreet News
USD/CAD witnessed some follow-through selling for the third consecutive session on Thursday.
A modest USD rebound, a pullback in crude oil prices helped limit the downside, at least for now.
Upbeat US macro releases failed to impress bullish traders or provide any meaningful impetus.
The USD/CAD pair recovered a major part of its early lost ground to monthly lows and was last seen trading with only modest losses, just above the key 1.2500 psychological mark.
The pair extended this week’s rejection slide from the 1.2625-30 heavy supply zone and remained depressed for the third consecutive session on Thursday. The downward momentum pushed the USD/CAD pair further below the key 1.2500 psychological mark, to the lowest level since March 22.