For the 24 hours to 23:00 GMT, the USD rose 8.63% against the CAD and closed at 1.4168.
In the Asian session, at GMT0300, the pair is trading at 1.4130, with the USD trading 0.27% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.4044, and a fall through could take it to the next support level of 1.3959. The pair is expected to find its first resistance at 1.4194, and a rise through could take it to the next resistance level of 1.4259.
Looking forward, investors would keep a watch Canada’s Ivey Purchasing Managers’ Index for April, slated to release in later today.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.