The Canadian strengthens its positions. Wholesale sales grow
The Canadian dollar strengthens its position against the US dollar because of the positive oil prices and also due to the growth in wholesale sales in Canada.
- According to published data, Canada’s wholesale sales in October rose by 1.5%, against the decline in September at -1.1%.
Technical analysis: Based on this statistics, the pair USD/CAD broke through a significant support level at the level of 1.2845 and is moving steadily towards psychological support at the level of 1.2800. In case of fixing the price of the instrument below the level of 1.2800, one should expect its further decrease to the level of 1.2760, 1.2740.
Fig. USD/CAD. The current price is $ 1.2819.
Alexander Sivtsov