USDCAD Movement
For the 24 hours to 23:00 GMT, the USD slightly rose against the CAD and closed at 1.3440.
In the Asian session, at GMT0300, the pair is trading at 1.3441, with the USD trading a tad higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.3430, and a fall through could take it to the next support level of 1.3418. The pair is expected to find its first resistance at 1.3453, and a rise through could take it to the next resistance level of 1.3464.
With no macroeconomic releases in Canada today, investors would look forward to global macroeconomic releases for further cues.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
