USDCAD Movement
For the 24 hours to 23:00 GMT, the USD marginally rose against the CAD and closed at 1.3399 on Friday.
In the Asian session, at GMT0400, the pair is trading at 1.3396, with the USD trading slightly lower against the CAD from Friday’s close.
The pair is expected to find support at 1.3366, and a fall through could take it to the next support level of 1.3336. The pair is expected to find its first resistance at 1.3431, and a rise through could take it to the next resistance level of 1.3466.
With no economic releases in Canada today, trading trends in the CAD are expected to be determined by global macroeconomic news.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
