FXStreet — The good mood around the USD/CAD has also on Friday stopped. And so, the currency reached a few the second day in a row, new Multi-month highs. In American business, the Couple climbed to the highest level since February of 2016 at 1,3696. Subsequently, there was a moderate correction of the gains rates.
The Loonie reacted little to the American and canadian economic data. Yesterday, there was a moderate recovery in spite of the rebound in Oil prices.
Canada’s economy continued to report for the month of March on the spot. The gross domestic product (GDP) was stagnant last month, confirming Canada’s statistics Agency on Friday. According to a first estimate of the US Bureau for economic analysis the American economy grew in the first quarter of 2017 only 0.7 percent. Bank economists had expected a 1.0 percent increase. The record had little effect on the financial markets.
Technical Course Brands
In many units of time Lord overbought market now in terms of the quantitative indicators of the conditions, but so far there are no signals that suggest a correction. The short-term Trend remains bullish.
The psychological 1.3700 provides the first resistance. Further barriers are 1,3735 (high-25. February 2016) and 1,3780 (Deep 09. February). Supports on the other hand, 1,3645 (20-hour line), 1,3620 (daily low) and 1,3580/85.
** FXStreet News Editorial, FXStreet**