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The Canadian dollar was under considerable pressure because of the publication of unexpectedly weak data on Canada’s GDP. All Latest Market News.

Decrease in GDP growth rates in Canada was particularly acute in the market because of the Bank of Canada’s recent protocol, which also disappointed the market.

As a result, the pair USD/CAD after almost two-day narrow flat resumed growth on the overall sales of the Canadian. Considering the slowdown of the Canadian economy, which can be traced lately, the pair USD/CAD aimed at further correction against the downward movement, which was traced from May to August of this year.

For a more ambitious correctional movement, this pair should fix above the resistance of 1.2930 (Fibo. 50.0 from the May’s maximum). This will open the way to the resistance level of 1.3000 and 1.3130-60.

Hanzenko Anton