USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.25% against the CAD to close at 1.0640. The Canadian Dollar found support after the nation posted a narrower-than-expected trade deficit to C$152 million from the revised C$961 million recorded in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.0637, with the USD trading tad lower from yesterday’s close.
The pair is expected to find support at 1.0609, and a fall through could take it to the next support level of 1.0582. The pair is expected to find its first resistance at 1.0673, and a rise through could take it to the next resistance level of 1.071.
Trading trends in the pair today are expected to be determined by global news.
The currency pair is trading below its 20 Hr and 50 Hr moving average.
