USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.16% against the CAD to close at 1.0908.
In the Asian session, at GMT0300, the pair is trading at 1.0909, with the USD trading tad higher from yesterday’s close.
The pair is expected to find support at 1.0897, and a fall through could take it to the next support level of 1.0884. The pair is expected to find its first resistance at 1.0929, and a rise through could take it to the next resistance level of 1.0948.
Amid lack of economic releases from Canada today, the release of Canadian International Merchandise Trade report, due on Wednesday, would be closely watched by the market participants
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
