The Canadian remains under pressure

The Canadian dollar is traded under pressure against the US dollar, despite a significant increase in sales in the manufacturing sector of Canada. Sales growth in the manufacturing sector of Canada in November was 3.4%, against the decline in the previous period at -0.6%. The volume of foreign investment in Canadian securities in November was $ 19.56 billion, which is lower than the previous value of $ 20.765 billion. The main pressure on the Canadian is exerted by the decline in oil prices, which reached about -1.30%

Technical analysis: The pair USD/CAD, despite weakening of the Canadian, moves in a downward short-term trend. The nearest levels of resistance are 1,2485, 1,2510. The support levels are 1,2385, 1,2360.

Fig. USD/CAD. Current price – $ 1.2435

Alexander Sivtsov