USDCAD Movement
On Friday, the USD rose 1.03% against the CAD to close at 1.2610.
In the Asian session, at GMT0300, the pair is trading at 1.2619, with the USD trading 0.07% higher from Friday’s close.
The pair is expected to find support at 1.2517, and a fall through could take it to the next support level of 1.2415. The pair is expected to find its first resistance at 1.2677, and a rise through could take it to the next resistance level of 1.2734.
Meanwhile, investors would keep a close eye on Canada’s crucial GDP data, scheduled tomorrow to get better insights in the nation’s economy.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
