USD/CAD: Loonie trading flat in the Asian session


USDCAD Movement

For the 24 hours to 23:00 GMT, the USD rose 0.24% against the CAD and closed at 1.3115.

In the Asian session, at GMT0300, the pair is trading at 1.3115, with the USD trading flat against the CAD from yesterday’s close.

The pair is expected to find support at 1.3080, and a fall through could take it to the next support level of 1.3044. The pair is expected to find its first resistance at 1.3137, and a rise through could take it to the next resistance level of 1.3158.

Going ahead, investors will closely monitor Canada’s housing starts for June and building permits for May, scheduled to release later in the day.

The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.

This entry was posted in USD/CAD. Bookmark the permalink.

Comments are closed.