USD/CAD drops on dovish Bernanke testimony

The pair is dropping at the time of writing 30 pips from intraday high on Bernanke testimony, quoting at 0.9981 (-0.02%) at the time of writing.

After bottomed out at 0.9967 in the Asian session, the pair trimmed its intraday losses during the European session, peaking at 1.0012 on risk-off sentiment rise after Juncker remarks on Greek talks .

Bernanke said today that job situation improved modestly in past year and U.S. has a long way to go before job market is normal. He warned that events in Europe may harm U.S. economy.

According to Mataf analysis team, the pair may find the next support levels at 0.9965, 0.9935 and 0.9900. On the upside, USD/CAD resistances are located at 1.0000, 1.0045 and 1.0065.

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