USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 8.28% against the CAD and closed at 1.4122.
On the data front, Canada’s wholesale sales rose 0.7% on a monthly basis in February, compared to a rise of 1.8% in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.4162, with the USD trading 0.28% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.4070, and a fall through could take it to the next support level of 1.3978. The pair is expected to find its first resistance at 1.4216, and a rise through could take it to the next resistance level of 1.4270.
Moving forward, investors would keep a close watch on Canada’s retail sales for February, slated to release later today.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
