USDCAD Movement
For the 24 hours to 23:00 GMT, the USD slightly rose against the CAD and closed at 1.3093.
In economic news, Canada’s retail sales unexpectedly eased 0.1% on a monthly basis in August, defying market consensus for a rise of 0.4%. Retail sales had recorded a revised rise of 0.6% in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.3107, with the USD trading 0.11% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.3082, and a fall through could take it to the next support level of 1.3056. The pair is expected to find its first resistance at 1.3128, and a rise through could take it to the next resistance level of 1.3148.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
