USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.44% against the CAD to close at 1.2332.
In the Asian session, at GMT0300, the pair is trading at 1.2337, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.2299, and a fall through could take it to the next support level of 1.2261. The pair is expected to find its first resistance at 1.2388, and a rise through could take it to the next resistance level of 1.2439.
Going forward, investors would keep a close on Canada’s GDP data, scheduled next week to get better insights in the nation’s economy.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
