USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose marginally against the CAD to close at 1.0170, as Standard & Poor’s warning for Euro-zone countries credit downgrade diminished appeal for riskier currencies.
In the Asian session, at GMT0400, the pair is trading at 1.0195, with the USD trading 0.24% higher from yesterday’s close.
The pair is expected to find support at 1.0144, and a fall through could take it to the next support level of 1.0093. The pair is expected to find its first resistance at 1.0223, and a rise through could take it to the next resistance level of 1.0250.
Investors are eying Bank of Canada (BoC) interest rate decision along with other economic releases in Canada to be released later today.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
