Given that today we have upcoming events on the economic calendar that may slightly affect the U.S dollar and Canadian dollar, we’d like to keep our eyes on the loonie for this time as USD/CAD remains strong over the U.S dollar until now. However considering that CAD Gross Domestic Product is due today and is expected to be bad and the chart below shows signs of a strong $CAD the question remains: Will the U.S dollar weaken further and hit that support level at 1.30670?.
We see it coming considering that the pair is trending down with no sign of retracement.
