Interval: H4

Considering a parallel channel where the USDCAD has rejected from the trend line forming a consolidation under the 1.0000 mark, we can consider as target the upper line supplied by the channel.

Also the macroeconomic indication Building Permits has been published under the analysts estimation of 4.3% with the value of 11.2%. Other macroeconomic information will be released today at 1:30 pm GMT, for the trade balance and the jobs sector.

Most probably if the numbers are low the market will react and the USD will take a winning position over the CAD.