USD CAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.68% against the CAD to close at 1.0083.
The Canadian dollar advanced amid higher oil prices and a weaker dollar. Additionally, Canada’s leading economic indicators climbed 0.8% in December, more than the market expectations for a 0.6% rise, further lifting market sentiments.
In the Asian session, at GMT0400, the pair is trading at 1.0095, with the USD trading 0.12% higher from yesterday’s close.
The pair is expected to find support at 1.0050, and a fall through could take it to the next support level of 1.0005. The pair is expected to find its first resistance at 1.0143, and a rise through could take it to the next resistance level of 1.0190.
Trading trends in the pair today are expected to be determined by the release of Canadian retail sales in the day ahead.
The currency pair is trading between its 20 Hr and its 50 Hr moving averages.
