USDCAD - Growth within the local ascending corridor
The quotations were practically not affected by the report of Statistics Canada: in October, the volume of production grew by 2.8% to 72.6B Canadian dollars, and the oil industry (12.7%) and the food industry (2.9%) stand out among the leaders of the sector and the chemical industry (4.9%), while in the automotive industry (–3.2%) and mechanical engineering (–1.7%), a negative trend is observed. According to experts, growth in these sectors should not be expected soon, as there is a serious shortage of materials and microchips, which also reduced production and decreased exports of cars and spare parts by 1.8%.
On the daily chart of the asset, the trading instrument moves within the local ascending corridor. Technical indicators signal further growth.
Resistance levels: 1.37, 1.39 | Support levels: 1.354, 1.338