USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.30% against the CAD to close at 1.0221.
In the Asian session, at GMT0300, the pair is trading at 1.0226, with the USD trading marginally higher from yesterday’s close, ahead of the outcome of the Federal Reserve’s closely watched policy setting meeting due later today.
The pair is expected to find support at 1.0187, and a fall through could take it to the next support level of 1.0149. The pair is expected to find its first resistance at 1.0252, and a rise through could take it to the next resistance level of 1.0279.
Canada is scheduled to release its wholesale sales later today wherein investors anticipate a stable movement in April. Additionally, the Bank of Canada’s new Governor, Stephen Poloz, will give his first official speech today, which is also keenly awaited as the market tries to decipher his policy stance.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
