USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose marginally against the CAD to close at 1.0494. The greenback continues to hold on to gains against the CAD, as market participants continue to worry about a possible military strike in Syria.
In the Asian session, at GMT0300, the pair is trading at 1.0484, with the USD trading 0.10% lower from yesterday’s close.
The pair is expected to find support at 1.0467, and a fall through could take it to the next support level of 1.0450. The pair is expected to find its first resistance at 1.0507, and a rise through could take it to the next resistance level of 1.0530.
Trading trends in the pair today are expected to be determined by release of current account data, industrial product price index and raw material price index in Canada later today.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
