USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.15% against the CAD to close at 1.0339, as weaker-than-expected US home sales numbers weighed on the greenback.
In the Asian session, at GMT0300, the pair is trading at 1.0325, with the USD trading 0.14% lower from yesterday’s close.
The pair is expected to find support at 1.0308, and a fall through could take it to the next support level of 1.0290. The pair is expected to find its first resistance at 1.0354, and a rise through could take it to the next resistance level of 1.0382.
Today’s Canadian economic calendar includes retail sales data for month of May. A positive print should boost the performance of the Canadian Dollar against most of its major peers.
The currency pair is trading below its 20 Hr and its 50 Hr moving averages.
