Daily Analysis USD/CAD - Monday, 23/03/2015
For the USD/CAD saw on Friday the release of the retail sales results and read the consumer price index as core retail sales recorded a sharp decline of 1.8% on a monthly level suffered their worst expectations of much and that were monitored to decline by only 0.4% on the same level, while the adjusted figures Previous reading of the reduced rate of decline of 2.3% to 2.0% of the monthly level of the past, as well as it recorded a non-core retail sales decline by 1.7% on a monthly basis and suffered their worst expectations, which were monitored to decline by 0.7% only at the same level, as has been modified previous reading numbers to shrink back down from the 2.0% rate to 1.8% of the monthly level of the former, in contrast has CPI core rose by 0.6% on a monthly basis as expectations, while non-consumer price index mainly recorded a rise of 0.9% on the monthly level, the highest of expectations and which was monitored by rising only 0.7% on the same level
Technically after USD/CAD bounce from a very strong resistance level 1.2824 pair declined again to rebound from of the downtrend which support levels have been breached in advance to the top before the price to him coming back my brother and be able to break it and stability below, and the current is the pair to re-test This trend, which makes the current region for the pair of Canadian dollar is very suitable for sale to halt the loss of the highest levels of 1.2650 and first target of the next support 1.2450, which if broken down into the pair will target 1.2360 Monthly support
