Slower improvement of Canadian trade balance bullish for USDCAD
Canada’s international trade deficit narrowed less than expected in September: to 1.0 billion from 1.2 billion Canadian dollars in August. Will the USDCAD rise?
The price chart on 1-hour timeframe shows USDCAD: H1 is in uptrend. The price is rising above the 200-period moving average MA(200) which is rising. The RSI oscillator is above 50 level but has not reached the overbought zone.
Technical Analysis Summary
| Order | Buy |
| Buy stop | Above 1.3175 |
| Stop loss | Below 1.3155 |