USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.11% against the CAD and closed at 1.3296 on Friday.
On the macro front, Canada’s retail sales fell 0.1% on a monthly basis in September, declining for the first time in three months and meeting market expectations. In the previous month, retail sales had recorded a revised rise of 0.1%.
In the Asian session, at GMT0400, the pair is trading at 1.3296, with the USD trading flat against the CAD from Friday’s close.
The pair is expected to find support at 1.3267, and a fall through could take it to the next support level of 1.3238. The pair is expected to find its first resistance at 1.3313, and a rise through could take it to the next resistance level of 1.3330.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
