USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.11% against the CAD to close at 1.0385, following strong Canadian retail sales data. Retail sales in Canada rose 1.0% (M-o-M) to C$38.2 billion in September.
In the Asian session, at GMT0400, the pair is trading at 1.0413, with the USD trading 0.27% higher from yesterday’s close.
The pair is expected to find support at 1.0364, and a fall through could take it to the next support level of 1.0315. The pair is expected to find its first resistance at 1.0444, and a rise through could take it to the next resistance level of 1.0475.
Bank of Canada Governor Carney’s speech is likely to receive increased market attention.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
