Forex: USD/CAD recovers the mark of 0.9834/37

FXstreet.com (Barcelona) - After a brief setback that was contained in the region of 0.9814 (intraday low), the USD/CAD has recovered over 20 pips in recent minutes, to settle at 0.9834/37, whereby regaining its hold on positive territory during American trading. After an earlier miss on Canadian data, the pair has secured a modest gain of +0.04% Friday.

Earlier today in Canada, International Merchandise Trade (November) was reported at $-1.96B, missing expectations of only $-0.60B and compared with $-0.17B previously. Meanwhile, the US Trade Balance came in at $-48.73B in November, which also proved to be much lower than the projected $-41.30B.

The technical analyst team at Mataf.net cites resistive means at 0.9863 0.9898, and ultimately 0.9915. On the pullback or a prolonged movement lower, the USD/CAD will face calculated support at 0.9811, then 0.9794, and finally 0.9759.

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