USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.12% against the CAD to close at 1.0871, amid lack of economic releases from the Canadian economy.
In the Asian session, at GMT0300, the pair is trading at 1.0867, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 1.0841, and a fall through could take it to the next support level of 1.0816. The pair is expected to find its first resistance at 1.0890, and a rise through could take it to the next resistance level of 1.0914.
Later today, the Statistics Canada is schedules to publish a report on Canada’s current account for the first quarter.
The currency pair is trading just below its 20 Hr moving average and is showing convergence with its 50 Hr moving average.
