USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.18% against the CAD and closed at 1.3639.
Yesterday, the US President, Donald Trump, pledged to keep the US in the North American Free Trade Agreement (NAFTA).
In the Asian session, at GMT0300, the pair is trading at 1.3642, with the USD trading slightly higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.3557, and a fall through could take it to the next support level of 1.3471. The pair is expected to find its first resistance at 1.3699, and a rise through could take it to the next resistance level of 1.3755.
Going ahead, investors will closely monitor Canada’s GDP data for February, to gauge strength in the Canadian economy.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
