USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose marginally against the CAD to close at 0.9997.
In the Asian session, at GMT0300, the pair is trading at 1.0000, with the USD trading 0.03% higher from yesterday’s close.
The pair is expected to find support at 0.9972, and a fall through could take it to the next support level of 0.9943. The pair is expected to find its first resistance at 1.0031, and a rise through could take it to the next resistance level of 1.0061.
Investors are eying Bank of Canada (BoC) interest rate decision along with other economic data to be released in Canada later today.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
