USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.15% against the CAD and closed at 1.3023.
In the Asian session, at GMT0400, the pair is trading at 1.3032, with the USD trading 0.07% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.2993, and a fall through could take it to the next support level of 1.2954. The pair is expected to find its first resistance at 1.3055, and a rise through could take it to the next resistance level of 1.3078.
This afternoon, investors will keep a close watch on the release of Canada’s Ivey PMI data for January.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
