USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose marginally against the CAD to close at 1.3296.
In the Asian session, at GMT0400, the pair is trading at 1.3304, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.3283, and a fall through could take it to the next support level of 1.3262. The pair is expected to find its first resistance at 1.3325, and a rise through could take it to the next resistance level of 1.3347.
Moving ahead, market participants will look forward to the BoC’s interest rate decision, scheduled to be announced next week.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
