The Canadian Dollar dropped against the USD and all major currencies, as oil prices declined. Oil is Canada's major export product and affecting the local currency accordingly. The long term direction in the pair is unclear and it's mostly ranging for the past months. Looking for a short term reversal upwards is possible above 1.0385. Overall, USD/CAD traded with a low of 1.0284 and with a high of 1.0369. Today, Manufacturing Sales data is expected at 0.4% vs. 0.2% previous.

USD/CAD - Last: 1.0321

Resistance

1.0368

1.0387

1.0462

Support

1.0276

 
 

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