USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.55% against the CAD and closed at 1.2649.
Macroeconomic data indicated that Canada’s wholesale sales surprisingly eased 0.5% on a monthly basis in December, defying market expectations for an advance of 0.4%. Wholesale sales had registered a revised rise of 0.3% in the prior month.
In the Asian session, at GMT0400, the pair is trading at 1.2659, with the USD trading 0.08% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.2599, and a fall through could take it to the next support level of 1.2539. The pair is expected to find its first resistance at 1.269, and a rise through could take it to the next resistance level of 1.2721.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
