USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.76% against the CAD to close at 1.2150, following disappointing economic data in the US.
In the Asian session, at GMT0300, the pair is trading at 1.215, with the USD trading flat from yesterday’s close.
The pair is expected to find support at 1.2089, and a fall through could take it to the next support level of 1.2029. The pair is expected to find its first resistance at 1.2240, and a rise through could take it to the next resistance level of 1.2331.
Looking ahead, investors would keep a close eye on the BoC Governor, Stephen Poloz’s speech, scheduled later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
