USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.11% against the CAD to close at 1.3102.
In economic news, Canada’s retail sales increased more than expected by 0.5% on a monthly basis in August, against market expectations of an advance of 0.1%. In the previous month, it has risen by an upwardly revised 0.6%.
In the Asian session, at GMT0300, the pair is trading at 1.3079, with the USD trading 0.18% lower from yesterday’s close.
The pair is expected to find support at 1.3049, and a fall through could take it to the next support level of 1.3019. The pair is expected to find its first resistance at 1.3135, and a rise through could take it to the next resistance level of 1.3191.
Later in the day, Canada’s consumer prices data would garner lot of market attention.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
