The Canadian dollar edged higher after its economy grew by 0.1% in October. The US counterpart had recovered along a rising trendline from mid-November but hit resistance in the supply zone between 1.3700 and last month’s high of 1.3800. A drop below the trendline has weighed on short-term sentiment, making 1.3520 the key support where a breach could cause a correction to 1.3400. The bulls will need to reclaim 1.3700 before the uptrend could regain traction in the medium-term.
