USDCAD Movement
On Friday, the USD rose marginally against the CAD to close at 1.0264.
On the Canadian economic front, the consumer price index (CPI) rose 1.0% (MoM) in March, while the annual core CPI climbed 1.4% in March. Moreover, wholesale sales remained unchanged in February as compared to an upwardly revised rise of 0.50% reported in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.0249, with the USD trading 0.15% lower from Friday’s close.
The pair is expected to find support at 1.0228, and a fall through could take it to the next support level of 1.0206. The pair is expected to find its first resistance at 1.0271, and a rise through could take it to the next resistance level of 1.0292.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
