USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.55% against the CAD to close at 1.2906.
In the Asian session, at GMT0300, the pair is trading at 1.2911, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.2858, and a fall through could take it to the next support level of 1.2805. The pair is expected to find its first resistance at 1.2991, and a rise through could take it to the next resistance level of 1.3071.
Amid no economic releases in Canada today, investors will look forward to the Bank of Canada’s interest rate decision, scheduled to be announced tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
