Today Thanksgiving Day is celebrated in the United States and the US stock exchanges are closed for the day.
Yesterday a number of macroeconomic indicators reflecting the health of the economy came out in America. The published data showed mixed dynamics. The US dollar continues to lose its positions relative to the major currencies since Tuesday.
In addition, the dollar is being pressured by a number of other fundamental factors related to permutations in the Federal Reserve and the prospects for adopting a tax reform.
As for the Canadian dollar, it is currently relatively stable and against the backdrop of rising oil prices it is trying to strengthen its positions.
When considering the chart, we can observe the formed downward movement from the level of 1.2810.
Technical indicators also confirm the further price movement down. The MACD oscillator is near the zero mark and tends to the negative zone. The Stochastic indicator continues to be in the oversold zone, and the ADX confirms a downward trend.
We advise looking for points to enter short positions near the level of 1.2700.
