USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.07% against the CAD to close at 1.0650, following upbeat jobless claims data.
In the Asian session, at GMT0400, the pair is trading at 1.0634, with the USD trading 0.15% lower from yesterday’s close.
The pair is expected to find support at 1.0614, and a fall through could take it to the next support level of 1.0595. The pair is expected to find its first resistance at 1.0653, and a rise through could take it to the next resistance level of 1.0673.
With a void in economic releases from both the US and Canada, trading trends would likely be determined by factors on the global front.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
