USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined slightly against the CAD and closed at 1.3408.
In the Asian session, at GMT0400, the pair is trading at 1.3413, with the USD trading a tad higher against the USD from yesterday’s close.
The pair is expected to find support at 1.3381, and a fall through could take it to the next support level of 1.3349. The pair is expected to find its first resistance at 1.3435, and a rise through could take it to the next resistance level of 1.3457.
This afternoon will bring some influential Canadian data releases, namely the nation’s GDP figures for August and the RBC manufacturing PMI for October.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
