USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.43% against the CAD to close at 1.0121. The loonie recorded gains on rising oil prices and broad weakening in the US Dollar.
In the Asian session, at GMT0300, the pair is trading at 1.0117, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 1.0095, and a fall through could take it to the next support level of 1.0073. The pair is expected to find its first resistance at 1.0151, and a rise through could take it to the next resistance level of 1.0185.
Later today in Canada, investors look forward to the scheduled gross domestic product data, which is expected to remain stable in February.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
