USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.11% against the CAD to close at 1.0955, on a relatively quiet trading day, with the US markets closed for the Martin Luther King holiday.
In the Asian session, at GMT0400, the pair is trading at 1.0950, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 1.0930, and a fall through could take it to the next support level of 1.0910. The pair is expected to find its first resistance at 1.0972, and a rise through could take it to the next resistance level of 1.0994.
The Statistics Canada is scheduled to report the trend in Canada’s wholesale sales and manufacturing shipments for the month of November, later today.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
