USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.40% against the CAD to close at 1.1348.
In the Asian session, at GMT0400, the pair is trading at 1.1349, with the USD trading a tad higher from yesterday’s close.
The pair is expected to find support at 1.1319, and a fall through could take it to the next support level of 1.1289. The pair is expected to find its first resistance at 1.1370, and a rise through could take it to the next resistance level of 1.1391.
Amid lack of major economic releases from Canada today, market participants look forward to Canada’s monthly wholesale sales data, scheduled later today.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
