USD/CAD followed different trends yesterday, with trading volatility amounting to 78 points. The rate steadied considerably before noon, having reached a peak at 1.2645, but then dropped promptly to a support level of 1.2562.
Statistics for US retail sales in March are to be released today at 15:30 GMT+2. Retail sales and core retails sales indexes are both expected to move from the red and reach the values of 1.1% and 0.7%, respectively. The most important news is expected to be released on Wednesday. The Bank of Canada is to voice the decision about interest rates and outline the future course of the country's monetary policy.
Bollinger Bands are converging on H4 chart, pointing to the continuation of the downtrend. The MACD histogram is in the positive zone, but its volumes are decreasing by leaps and bounds, which indicates sellers' growing influence and a rate fall.
Resistance levels: 1.2645, 1.2710, 1.2780.
Support levels: 1.2562, 1.2510, 1.2465.