USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.56% against the CAD to close at 1.3196.
In the Asian session, at GMT0400, the pair is trading at 1.3209, with the USD trading 0.1% higher from yesterday’s close.
The pair is expected to find support at 1.3105, and a fall through could take it to the next support level of 1.3001. The pair is expected to find its first resistance at 1.3297, and a rise through could take it to the next resistance level of 1.3384.
Moving ahead, Canada’s GDP data for August, scheduled to be released tomorrow, will garner a lot of investor attention.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
