USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.86% against the CAD to close at 1.2198, amid weak US data releases.
In the Asian session, at GMT0300, the pair is trading at 1.2194, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 1.2114, and a fall through could take it to the next support level of 1.2033. The pair is expected to find its first resistance at 1.2302, and a rise through could take it to the next resistance level of 1.2409.
Going forward, Canada’s consumer inflation along with retail sales data, scheduled later today would keep investors on their toes.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
