FXstreet.com (Barcelona) - USD/CAD has fallen 40 pips last hour, and 0.45% so far today from opening price at 1.2392, to test the 1.2330 support ahead the Canadian retail sales data. Currently the pair is trading around 1.2350/60.
Retail sales in Canada are expected to fall 0.3% between January and February as weaken credit conditions and labor market are pressuring households. Last month, Retails sales posted 1.9% increases from December. Excluding autos, Retail sales expectations are a 0.2% increases between January and February, well below 1.3% posted between December and January.
Yesterday the pair won 0.14% from 1.2377 opening price, reaching 1.2329 as minimum and 1.2476 as maximum., to close the day at 1.2393
According to Mataf.net USD/CAD is in consolidation movement: 1,2377. USD CAD is in a consolidation after the last bullish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. The price should find a resistance below 1,2510 (133 pips). The consolidation should continue. The price should continue to move in Bollinger bands.
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