USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.38% against the CAD to close at 1.0284.
In Canadian economic news, the foreign investments in Canadian securities rose C$7.4 billion in September, compared to C$8.22 billion in August. Meanwhile, the Canadian investments in foreign securities, declined to C$718 million in September compared to C$2.05 billion in August.
In the Asian session, at GMT0400, the pair is trading at 1.0283, with the USD trading flat from yesterday’s close.
The pair is expected to find support at 1.0228, and a fall through could take it to the next support level of 1.0174. The pair is expected to find its first resistance at 1.0317, and a rise through could take it to the next resistance level of 1.0352.
The pair is expected to trade on the cues from the release of Consumer Price Index (CPI) in Canada.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
