USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.03% against the CAD and closed at 1.3515.
In economic news, wholesales sales rose less than expected by 0.9% in March, compared to a revised gain of 0.3% in the previous month. Investors had anticipated a 1.0% rise.
In the Asian session, at GMT0300, the pair is trading at 1.3531, with the USD trading 0.12% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.3481, and a fall through could take it to the next support level of 1.343. The pair is expected to find its first resistance at 1.3557, and a rise through could take it to the next resistance level of 1.3582.
Moving forward, all eyes would be on the Bank of Canada’s (BoC) monetary policy meeting, scheduled later in the day.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
