The Canadian is stabilizing

The Canadian dollar is trying to stabilize its position against the US dollar based on more positive data on the construction sector of Canada, rather than expected.

• According to published data, the building permit in Canada increased by 3.5% in October, while analysts had expected a decline at-9.2%.

Technical analysis: During today’s trading, the pair USD/CAD is moderately growing in response to the result of the December meeting of the Bank of Canada, thereby justifying yesterday’s expectations. See “The Canadian is losing ground. Data on the discount rate of the Bank of Canada “

The main support levels are 1.2780; 1.2760.

The resistance levels are 1.2870; 1.2900.

Fig. USD/CAD. Current price – $ 1.2839

Alexander Sivtsov