USD CAD Technical Analysis August 17 2018
The USD rose 0.12% against the CAD on Thursday and closed at 1.3156. Today European session at 10:15 GMT, the USD/CAD trading at 1.3145, which is 0.07% lower against the CAD from yesterday’s close.
In the American Session Canadian data showed that, Manufacturing sales rose 1.1% to $ 58.1 billion in June, following a 1.5% increase in May. The increase in June is mainly due to higher sales in oil and coal
Manufacturing sales m/m
Manufacturing products, while sales decreased in the chemical and food industries. In fixed dollars, manufacturing, sales increased by 0.7 percent, indicating an increase in the volume of products sold. Sales of petroleum and coal products rose by 15.9% in June.
ADP Nonfarm Employment Change
Employment in Canada rose by 11,600 jobs from June to July, according to Canada’s National Employment Report for July. The ADP Canada National Employment Report is generally distributed to the public every month for free and is produced by the ADP Research Institute. This report, derived from actual salary data in the ADP, measures the change in gross nonfarm payrolls every month on a seasonal basis.
When the US market opens, some Canadian economic data will release such as CPI m/m, Common CPI y/y, Foreign Securities Purchases, Median CPI y/y, Trimmed CPI y/y and Core CPI m/m
USD CAD Technical Analysis August 16 2018.The pair is expected to find the support at 1.3120. If a fall through could take it to the next support level of 1.3087. The pair may find its first resistance at 1.3182, and a rise through could take it to the next resistance level of 1.3210. For today the expected trading range is between 1.3087, Support and 1.3210 Resistance.
The expected trend for today is Bearish (If it breaks the resistance 1.3187 then it will genetare Buy Signal)
Supports Levels: Support 1: 1.3120 Support 2: 1.3087 Support 3: 1.3060
Resistance Levels: Resistance 1: 1.3182 Resistance 2: 1.3210 Resistance 3: 1.3243
Previous day`s high: 1.3173
Previous day`s low: 1.3112
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