USDCAD Movement
For the 24 hours to 23:00 GMT, the USD advanced 0.30% against the CAD to close at 1.0346.
In the US economic news, retail sales rose less than expected 0.2% in July and compared to revised rise of a 0.6% in June, while business inventories remain unexpectedly flat in June. Additionally, US export prices fell against the market expectations, while import prices rose less than expected in July.
In the Asian session, at GMT0300, the pair is trading at 1.0350, with the USD trading slightly higher from yesterday’s close.
The pair is expected to find support at 1.0314, and a fall through could take it to the next support level of 1.0279. The pair is expected to find its first resistance at 1.0372, and a rise through could take it to the next resistance level of 1.0395.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
