After the worse than expected Canadian GDP reading yesterday, the UsdCad reverted the trend and is now trading lower. Right now, and watching the crude evolution in the US, the loonie could benefit only with the deman for high yielders, given the good results from today and yesterday.
It's important to highlight that after hitting today's high at 1.1085, the pair corrected downwards and is offering us a 197 pips movement between yesterday and today. Right now, the pair is trading at 1.0941.
Traders are keeping an eye on the supports at 1.0900 and 1.0876, while the resistances are at 1.1085 and 1.1097.