USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.10% against the CAD to close at 1.0730.
The Canadian Dollar gained ground after a report indicated that retail sales in Canada rose for a second straight month in May. Retail sales in May rose 0.7%, on a monthly basis, in Canada, compared to a revised rise of 1.3% in the prior month. Markets were expecting retail sales to rise 0.6%.
In the Asian session, at GMT0300, the pair is trading at 1.0741, with the USD trading 0.10% higher from yesterday’s close.
The pair is expected to find support at 1.0718, and a fall through could take it to the next support level of 1.0694. The pair is expected to find its first resistance at 1.0756, and a rise through could take it to the next resistance level of 1.0770.
Amid a lack of releases from Canada today, trading trends in the pair would be determined by global news.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
