The Canadian received support. Canada GDP data

The Canadian stabilizes its position against the US dollar, against the backdrop of positive data on Canada’s GDP.

• According to published data, Canada’s GDP growth in February was 0.4%, against the January decline of -0.1%. In turn, the growth of the Canadian can be restrained against the background of a decline in oil prices during today’s trading.

Technical analysis: Since April 24, on the hourly chart, the USD/CAD price is moving in the flat range with support at 1.2800 and resistance at 1.2900.

The main recommendations: In a wide flat, one can consider both purchases and sales. The signal for entering the market will be the formation of a candle turn from the channel’s borders, with the potential for movement within the range of 40-60 points.

Fig. USD/CAD. The current price is $ 1.2835.

Alexander Sivtsov