USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.53% against the CAD to close at 1.2457.
In the Asian session, at GMT0400, the pair is trading at 1.2442, with the USD trading 0.12% lower from yesterday’s close.
The pair is expected to find support at 1.2394, and a fall through could take it to the next support level of 1.2345. The pair is expected to find its first resistance at 1.2479, and a rise through could take it to the next resistance level of 1.2516.
Looking ahead, investors would keep a close eye on Canada’s retail sales data, scheduled tomorrow.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
