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USD/CAD falls from 5-year high after awful US data round

FXStreet (San Francisco) - US dollar is trading depressed in the latest few minutes versus all of its major competitors after a awful set of US economic data. Inside this framework, the USD/CAD lost 5-year highs around 1.1390 to trade back at daily lows at 1.1320.

US retail sales declined 0.3% in September after its worst month since January 2014. Data was worst than expected. Ex Autos item fell 0.2%. The NY Empire State manufacturing index reported its lowest number since April 2014 at 6.17 points; well below expectations.

Currently, USD/CAD is trading at 1.1335, still up 0.34% on the day, having posted a daily high at 1.1387 and low at 1.1290. USD/CAD spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.

USD/CAD levels

If USD/CAD breaks below the 1.1320, it will face next supports at 1.1300, 101250 and 1.1220. To the upside, resistances are at 1.1350 and 1.1390.

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