USDCAD Movement
For the 24 hours to 23:00 GMT, the USD fell marginally against the CAD to close at 1.0258.
In the Asian session, at GMT0300, the pair is trading at 1.0245, with the USD trading 0.13% lower from yesterday’s close.
The pair is expected to find support at 1.0222, and a fall through could take it to the next support level of 1.0200. The pair is expected to find its first resistance at 1.0270, and a rise through could take it to the next resistance level of 1.0296.
The Bank of Canada’s (BoC) consumer price inflation data schedule to release today is set to determine the trading trends in the pair.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
