USD/CAD hits a fresh daily high at 1.3271 but still heads for a weekly loss. Canadian dollar among weakest currencies on Friday corrects lower after days of gains. The USD/CAD rose to 1.3271 during the American session, reaching a fresh two-day high and then pulled back, holding above 1.3240. Despite rising on Friday, the pair is trading 125 pips below the level it had a week ago. The Canadian dollar is retreating on Friday across the board, trimming a small portion of its weekly gains. It appears to be a normal correction after rising during five consecutive days. Data from Canada showed a strong rebound in manufacturing sales. The greenback on Friday is mostly lower across the board. The US July retail sales report and the marginal improvement in consumer sentiment in August did not help the US dollar. The DXY is falling 0.23% n Friday, trading above 93.00, on its way to the lowest weekly close since May 2018. Technical outlook The primary trend in USD/CAD is still pointing lower. A recovery above 1.3270 could alleviate the bearish pressure. The next resistance is seen at 1.3325/30 (July 28 & 29 low). On the flip side, a slide back under 1.3240 would export the 1.3200 area that protects the six month low it reached on Thursday at 1.3189. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US Industrial Production: Consumer goods recovery well underway – Wells Fargo FX Street 2 years USD/CAD hits a fresh daily high at 1.3271 but still heads for a weekly loss. Canadian dollar among weakest currencies on Friday corrects lower after days of gains. The USD/CAD rose to 1.3271 during the American session, reaching a fresh two-day high and then pulled back, holding above 1.3240. Despite rising on Friday, the pair is trading 125 pips below the level it had a week ago. The Canadian dollar is retreating on Friday across the board, trimming a small portion of its weekly gains. It appears to be a normal correction after rising during five consecutive days. Data from… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
