USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.70% against the CAD to close at 1.3209.
In the Asian session, at GMT0300, the pair is trading at 1.3183, with the USD trading 0.19% lower from yesterday’s close.
The pair is expected to find support at 1.3137, and a fall through could take it to the next support level of 1.309. The pair is expected to find its first resistance at 1.3269, and a rise through could take it to the next resistance level of 1.3354.
Moving ahead, the BoC’s rate announcement, scheduled later today, would grab lot of market attention, with broad expectations that it would keep its key interest rate on hold.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
