USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose marginally against the CAD to close at 1.0913, following the release of the Fed’s minutes from its policy meeting in April
In the Asian session, at GMT0300, the pair is trading at 1.0908, with the USD trading slightly lower from yesterday’s close.
The pair is expected to find support at 1.0886, and a fall through could take it to the next support level of 1.0863. The pair is expected to find its first resistance at 1.0937, and a rise through could take it to the next resistance level of 1.0965.
Later today, retail sales data from Canada would be closely eyed for further cues in the Canadian Dollar.
The currency pair is trading just below its 20 Hr moving average and is showing convergence with its 50 Hr moving average.
