USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.15% against the CAD to close at 1.0322. The Canadian Dollar came under pressure as prices of crude oil, the nation’s biggest export, declined for a second day.
In the Asian session, at GMT0300, the pair is trading at 1.0323, with the USD trading tad higher from yesterday’s close.
The pair is expected to find support at 1.0295, and a fall through could take it to the next support level of 1.0266. The pair is expected to find its first resistance at 1.0339, and a rise through could take it to the next resistance level of 1.0354.
Amid lack of economic news from Canada, investors are eyeing global economic news for further guidance in the pair.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
