USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 1.08% against the CAD and closed at 1.3043.
In the Asian session, at GMT0400, the pair is trading at 1.3064, with the USD trading 0.16% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.2997, and a fall through could take it to the next support level of 1.2931. The pair is expected to find its first resistance at 1.3149, and a rise through could take it to the next resistance level of 1.3235.
Investors this afternoon will keep a close watch on the Bank of Canada’s (BoC) interest rate decision, scheduled to release later today.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
