For the 24 hours to 23:00 GMT, the USD declined 0.65% against the CAD and closed at 1.2344.
In the Asian session, at GMT0400, the pair is trading at 1.2315, with the USD trading 0.23% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.2273, and a fall through could take it to the next support level of 1.2232. The pair is expected to find its first resistance at 1.2388, and a rise through could take it to the next resistance level of 1.2462.
This afternoon will bring a crucial Canadian release, namely the retail sales data for November
The currency pair is trading below its 20 Hr and 50 Hr moving averages.