Canada Leading Indicators comes in higher at 0.8%.USDCAD weaker
The expectation was 0.6%.
The USDCAD has moved sharply lower today breaking below channel trendline support – accelerating the move down. The 38.2% of the last major move down today comes in at the 1.0101 level. The underside of the broken trendline comes in at the same area.
On the daily chart the low from December and early November comes in at the 1.0051 and 1.0053 level respectively. This area should provide good support for the pair.
Forex News and Commentary by FXDD » Forex Trading
