USDCAD Movement
On Friday, the USD declined 0.32% against the CAD to close at 1.0170.
In the Asian session, at GMT0300, the pair is trading at 1.0152, with the USD trading 0.18% lower from Friday’s close.
The pair is expected to find support at 1.0129, and a fall through could take it to the next support level of 1.0107. The pair is expected to find its first resistance at 1.0195, and a rise through could take it to the next resistance level of 1.0239.
In the absence of any major economic release in Canada today, movement in the pair shall be determined by the economic releases from the US.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
