USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.80% against the CAD to close at 1.3019.
In the Asian session, at GMT0300, the pair is trading at 1.3044, with the USD trading 0.19% higher from yesterday’s close.
The pair is expected to find support at 1.2946, and a fall through could take it to the next support level of 1.2847. The pair is expected to find its first resistance at 1.3096, and a rise through could take it to the next resistance level of 1.3148.
Going ahead, investors will keep a close watch on the BoC’s interest rate decision, scheduled to be announced tomorrow.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
