USDCAD Support Analysis
USDCAD has reached the support zone for the third time. Let’s wait for the confirmation of reversal or breakout until the next week.
Due to the weekend, the confirmation of breakout on this week is not possible.
The retail sales of Canada came in a negative result today.
The Canadian Dollar remains higher as US Dollar weakness persists due to the US initial Jobless claims raised further to 861k than expected 761K.
Crude oil prices rising supports for the Canadian Dollar to move higher.
And today US manufacturing and services PMI data will help the Canadian Dollar to higher or weaker based on data released in the evening.
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