USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.33% against the CAD and closed at 1.3083, after Canada wholesale trade rebounded in June, rising 1.3% to C$55.32 billion.
In the Asian session, at GMT0300, the pair is trading at 1.3102, with the USD trading 0.15% higher from yesterday’s close.
The pair is expected to find support at 1.3048, and a fall through could take it to the next support level of 1.2994. The pair is expected to find its first resistance at 1.3167, and a rise through could take it to the next resistance level of 1.3232.
Trading trends in the CAD today are expected to be determined by Canada’s consumer prices for July.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
