USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.10% against the CAD and closed at 1.3272.
Data showed that trade deficit widened more-than-expected to C$2.1 billion in November, following a revised deficit of C$0.9 billion in the previous month
In the Asian session, at GMT0400, the pair is trading at 1.3230, with the USD trading 0.32% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.3197, and a fall through could take it to the next support level of 1.3164. The pair is expected to find its first resistance at 1.3293, and a rise through could take it to the next resistance level of 1.3356.
Going ahead, investors would keep an eye on the Bank of Canada’s interest rate decision followed by Canada’s housing starts for December, slated to release later in the day.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
