USDCAD Movement
On Friday, the USD declined 0.25% against the CAD to close at 1.0195. The greenback fell after disappointing economic data in the US sparked profit taking ahead of an upcoming Federal Reserve policy meeting.
In the Asian session, at GMT0400, the pair is trading at 1.0238, with the USD trading 0.42% higher from Friday’s close.
The pair is expected to find support at 1.0195, and a fall through could take it to the next support level of 1.0153. The pair is expected to find its first resistance at 1.0264, and a rise through could take it to the next resistance level of 1.0291.
The currency pair is its trading above its 20 Hr moving average and is showing convergence with 50 Hr moving average.
