USDCAD moves higher after weaker GDP data
The USDCAD was down testing the 200 day MA at the 0.9953 level. However, weaker than expected GDP data has pushed the pair off the key level. The GDP came in at -0.1% vs expectations of+0.2% . The YoY came in at 2.0% vs 2.3% expected (and 2.7% last). On the hourly chart below the channel trendline comes in at 0.9993 currently. A break above this level is needed to prove that the bulls have some support. The trend has been down. Buyers have to take charge.










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