USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.06% against the CAD and closed at 1.3519.
In the Asian session, at GMT0300, the pair is trading at 1.3485, with the USD trading 0.25% lower from yesterday’s close.
The pair is expected to find support at 1.3505, and a fall through could take it to the next support level of 1.349. The pair is expected to find its first resistance at 1.3534, and a rise through could take it to the next resistance level of 1.3548.
With no major economic data in Canada today, investors will now await the Bank of Canada’s (BoC) interest rate decision, due tomorrow, to get further insights.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
