Canadian dollar (CAD)

The Canadian Dollar rose against most of its major counterparts as an unexpected trade surplus in December encouraged speculation that the Bank of Canada will raise borrowing costs sooner than other central banks. The trade balance came out at 3.00B, better than the expected -0.40B. The USD/CAD's support level is located at 0.9840 and as long as the rate is below 1.0000, the Canadian Dollar is still more attractive. The next resistance level on the four hour chart is located at 0.9920.Overall, USD/CAD traded with a low of 0.9862 and with a high of 0.9986. Today, no major economic data is expected.

USD/CAD - Last: 0.9880

Resistance

0.9895

0.9950

Support

0.9830

0.9800

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