Forex: USD/CAD falls to daily lows after Fed projections

FXstreet.com (San Francisco) - The US Dollar has reacted down after the FOMC decision to maintain its interest rate unchanged and the Fed economic projections for the upcoming years. The USD/CAD fell to 1.0280, extending its decline from 1.0270, where the pair found support and it has begun to rise to trade at 1.0250.

With 0.25% losses on the day, the USD/CAD is trading inside a slightly bearish trend according to the Fxstreet.com Forex Studies. MACD, CCI and Momentum indicators are pointing bearish while the Stochastic is neutral in the 1-hour chart.

Next supports are at 1.0335, 1.0225 and 1.0215. On the upside, resistances are at 1.0270, 1.0275 and 1.0280.

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