RTTN:Canadian Dollar Extends Downtrend Against Majors
The Canadian dollar continued to move in a descending track against its major rivals in late Asian deals on Friday as the price of crude oil erased some of its recent sessions' solid gains.
The loonie slipped to more than 3-week lows of 1.1145 against the US dollar and 1.5291 against the euro. Against the Australian currency, the loonie dropped to 1.0026, its weakest level since October 28, 2013. The Canadian currency also eased to a session's low of 92.03 against the yen.
On the downside, the loonie may find support levels at 1.1230 against the greenback, 1.5310 against the euro, 1.0050 against the Australian dollar and 91.80 against the yen.
