USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.12% against the CAD to close at 0.9877, amid positive retail sales data in Canada and following a rise in crude oil prices.
Yesterday, Canadian retail sales increased 0.7% (MoM) to CAD39.45 billion ($39.93 billion), following a revised 0.2% increase in September.
In the Asian session, at GMT0400, the pair is trading at 0.9898, with the USD trading 0.21% higher from yesterday’s close.
The pair is expected to find support at 0.9879, and a fall through could take it to the next support level of 0.9859. The pair is expected to find its first resistance at 0.9908, and a rise through could take it to the next resistance level of 0.9919.
Investors await the release of gross domestic product and consumer price index data in Canada
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
