USDCAD Movement
On Friday, the USD declined marginally against the CAD to close at 1.0870.
In economic news, the Statistics Canada reported that foreign investors reduced their holdings in Canadian securities by C$1.23 billion while Canadian investors purchased C$7.88 billion in foreign securities in March.
In the Asian session, at GMT0300, the pair is trading at 1.0859, with the USD trading 0.10% lower from Friday’s close, in a thin-holiday trading session in Canada, on account of Victoria Day holiday.
The pair is expected to find support at 1.0847, and a fall through could take it to the next support level of 1.0836. The pair is expected to find its first resistance at 1.0880, and a rise through could take it to the next resistance level of 1.0902.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
