The Canadian continues to lose ground

The Canadian dollar continues to lose ground against the US dollar because of a slight decline in oil prices, as well as due to flat data on wholesale sales in Canada. According to published data, the volume of wholesale sales in August rose by 0.5%, against the growth in July at 1.7%. Also, the Canadian currency is under pressure of Friday’s flat data on Canada. That is why the pair USD/CAD continues to work out Friday’s forecast. For more information, please refer to https://esterholdings.com/en/2017/10/20/kanadets-teryaet-pozitsii-2/

Technical analysis: At the moment, the pair is trading in the area of ​​1.2637, one should consider the resistance level at 1.2670;  the level of support at the level of ​​1.2600-1.2590.

Fig. Current price USD/CAD – 1.2636

Alexander Sivtsov