USD/CAD Outlook (6 November 2019)
2019-11-06 14:22:07
Overall, USD/CAD is trending downwards. Recently, USD/CAD has been ranging across within 100pips.
The Canadian trade balance data released (Actual: -1.0B, Forecast: -0.6B, Previous: -1.2B revised from -1.0B) was worse than forecasted. The market did not react strongly to the data.
Currently, USD/CAD is moving towards the resistance level of 1.31800 and the next support level is at 1.30600.