The Canadian is under pressure: Data on wholesale sales in Canada.

The Canadian dollar is trading under pressure against the US dollar against the background of a decrease in the volume of wholesale sales in Canada.

• According to the published data, the volume of wholesale sales decreased in October by -1.2%, against the September growth at the level of 0.4%.

Also, the pressure on the Canadian is caused by the correction of the oil price in anticipation of data on oil reserves in the US.

Technical analysis: The pair USD/CAD maintains an upward trend both in the short and medium term. The resistance levels are 1.2860; 1.2900. Support levels are: 1.2460; 1.2740.

Fig.  USD/CAD chart, current price – 1.2819.

Alexander Sivtsov