The Canadian dollar softens as risk appetite ticks lower with US Treasury yields near one-month highs. On the daily chart, the US dollar’s bounce near November’s lows at 1.3260 has kept it in the triangle formation. An attempt above the previous high of 1.3470 prompted some sellers to cover their positions. As the pair fell back in search of follow-up bids, 1.3360 showed some buying interest, with 1.3260 being the bulls’ last stronghold. A rally back above 1.3460 would open the path to the first daily resistance at 1.3520.
