Data on Canada

The Canadian dollar was under considerable pressure after data on retail sales unexpectedly fell to the lowest level since February last year. More information about data on Canada: https://esterholdings.com/en/category/novosti-rinka/.

As a result, the pair USD/CAD broke the upper boundary of the downward channel. If this pair is able to gain a foothold above the level of 1.2540-50, one should expect a resistance test of 1.2590-1.2600. This will indicate the possibility of a reversal of the downtrend, which was traced from May this year.

Hanzenko Anton