USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.54% against the CAD and closed at 1.3787.
Yesterday, Canada’s Finance Minister, Bill Morneau, indicated that the nation needs an aggressive fiscal policy to deal with global economic headwinds and kick-start growth.
In the Asian session, at GMT0400, the pair is trading at 1.3811, with the USD trading 0.18% higher from yesterday’s close.
The pair is expected to find support at 1.3738, and a fall through could take it to the next support level of 1.3664. The pair is expected to find its first resistance at 1.3853, and a rise through could take it to the next resistance level of 1.3895.
With no macroeconomic releases in Canada today, trading trend in the CAD is expected to be determined by global macroeconomic news.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
