USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.11% against the CAD to close at 1.2220.
In the Asian session, at GMT0300, the pair is trading at 1.2219, with the USD trading flat from yesterday’s close.
The pair is expected to find support at 1.2146, and a fall through could take it to the next support level of 1.2073. The pair is expected to find its first resistance at 1.2272, and a rise through could take it to the next resistance level of 1.2325.
Looking ahead, Canada’s consumer price inflation coupled with retail sales data, scheduled later today would fetch lot of market attention.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
