Bad day for the Loonie.
USD/CAD took a steady direction north after the opening of the US session. The currency pair jumped to 1.3115 from 1.3045. Oil has turned the direction from its earlier peak, but still remains in green territory, up by about 25 cents. But this is not the main cause of the Canadian downfall.
Today's economic data was surprisingly weaker. The effect was on May data for wholesale sales, although they do not have such a heavy burden.
Technically, the couple persistently keeps over 1,300, but they will have to keep over the 1.3145 / 50 zone to reinforce bull control. On the underside, support remained at 1.30170. The price remains within the descending channel.
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