USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.72% against the CAD and closed at 1.3138 on Friday.
Macroeconomic data indicated that Canada’s retail sales declined 0.1% on a monthly basis in December, compared to a fall of 0.9% in the previous month. Market participants had expected retail sales to drop 0.3%.
In the Asian session, at GMT0400, the pair is trading at 1.3140, with the USD trading a tad higher against the CAD from Friday’s close.
The pair is expected to find support at 1.3096, and a fall through could take it to the next support level of 1.3053. The pair is expected to find its first resistance at 1.3212, and a rise through could take it to the next resistance level of 1.3285.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
