USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose slightly against the CAD and closed at 1.2925.
In the Asian session, at GMT0300, the pair is trading at 1.2921, with the USD trading marginally lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.2893, and a fall through could take it to the next support level of 1.2864. The pair is expected to find its first resistance at 1.2954, and a rise through could take it to the next resistance level of 1.2986.
With no economic releases in Canada today, CAD investors would look forward to global events for direction.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
