USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined marginally against the CAD to close at 1.0167.
In the Asian session, at GMT0300, the pair is trading at 1.0154, with the USD trading 0.13% lower from yesterday’s close.
The pair is expected to find support at 1.0140, and a fall through could take it to the next support level of 1.0126. The pair is expected to find its first resistance at 1.0176, and a rise through could take it to the next resistance level of 1.0198.
With no major domestic data from Canada scheduled for release today, the CAD is expected to closely track manufacturing data from the Europe for clarity on risk appetite among market participants.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
