The Canadian is stable. Data on business activity in the manufacturing sector of CanadaThe Canadian is stable. Data on business activity in the manufacturing sector of Canada - Ester Holdings
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The Canadian is stable. Data on business activity in the manufacturing sector of CanadaThe Canadian is stable. Data on business activity in the manufacturing sector of Canada

The Canadian dollar is stable against the US dollar after the publication of data on business activity in the manufacturing sector of Canada.

  • According to published data, PMI in March was 55.7, slightly higher than the previous value of 55.6. It is also worth noting that keeping the indicator above the level of 50.0 indicates prosperity in the manufacturing sector of Canada.

In turn, the growth of the Canadian currency is constrained due to low liquidity in the market, as well as due to a decrease in oil prices.

Technical analysis: The pair USD/CAD continues to move in a predominantly flat in the short term, with resistance at 1.2940 and support at 1.2860, 1.2820.

Key recommendations: Sales should be considered from the level of 1.2940, subject to the formation of a candle reversal for sale with the reduction potential of  50-70 points. Purchases should be considered from the level of 1.2820, subject to the formation of a candlestick, with a growth potential of 50-80 points. “Analysis of Japanese candles – the main candle models.

Fig. USD/CAD. The current price is $ 1.2884.

Alexander Sivtsov

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