USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.10% against the CAD to close at 1.0312.
In the Asian session, at GMT0300, the pair is trading at 1.0318, with the USD trading 0.06% higher from yesterday’s close.
The pair is expected to find support at 1.0298, and a fall through could take it to the next support level of 1.0278. The pair is expected to find its first resistance at 1.0340, and a rise through could take it to the next resistance level of 1.0362.
With no major economic releases from Canada, the loonie traders would await for fresh economic growth figures which are due to be announced by Statistics Canada on Monday.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
