USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.11% against the CAD and closed at 1.3504 on Friday.
The Canadian Dollar gained ground, after Canada’s seasonally adjusted consumer price index climbed by 0.2% on a monthly basis in October, meeting market expectations and after recording a similar rise in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.3482, with the USD trading 0.16% lower against the CAD from Friday’s close.
The pair is expected to find support at 1.3441, and a fall through could take it to the next support level of 1.34. The pair is expected to find its first resistance at 1.3543, and a rise through could take it to the next resistance level of 1.3604.
The currency pair is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
