USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 1.69% against the CAD and closed at 1.3209 on Friday.
On the macro front, Canada’s retail sales remained flat on a monthly basis in December, compared to a revised rise of 1.1% in the prior month.
In the Asian session, at GMT0400, the pair is trading at 1.3264, with the USD trading 0.42% higher against the CAD from Friday’s close.
The pair is expected to find support at 1.3221, and a fall through could take it to the next support level of 1.3178. The pair is expected to find its first resistance at 1.3288, and a rise through could take it to the next resistance level of 1.3312.
Trading trend in the pair today is expected to be determined by Canada’s wholesale sales data for December, slated to release later in the day.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
