Canadian Dollar insight USDCAD Favors bearish trend November 23, 2017
- the USD is trading at 1.2771 against the CAD, 0.09% lower
- change in the bullish trend in favor of the bearish trend.
- continue the development of growth with the target at 1.2880.
USDCAD Favors bearish trend – Data indicated that Canada’s wholesale sales unexpectedly fell on a monthly basis in September.
This morning at 10:40 GMT, the USD is trading at 1.2771 against the CAD, 0.09% lower from the New York close. The pair witnessed a high of 1.2788 and a low of 1.2751 during the session. In the New York session yesterday, the US Dollar fell 0.2% against the This morning at 10:40 GMT, the USD is trading at 1.2771 against t CAD, 0.09% low from the New York close. The pair witnessed a high of 1.2788 and a low of 1.2751 during the session. In the New York session yesterday, the US Dollar fell 0.2% against the Canadian Dollar to close at 1.2782. Data indicated that Canada’s wholesale sales unexpectedly fell on a monthly basis in September. The immediate downside, the first support level is seen at 1.2739, while on the upside, the first resistance level is situated at 1.2813.
USDCAD Favors bearish trend
Earlier, a weak signal was received to buy of US Dollar/Canadian Dollar, due to the crossing of signal lines at the level of 1.2720. The cancellation of the growth of the pair’s quotations will be the breakdown of the lower level of the Cloud with the closing of quotations below the level of 1.2715, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations of the pair is with the breakdown of the level of 1.2840.
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