USDCAD Movement
For the 24 hours to 23:00 GMT, the USD marginally rose against the CAD to close at 1.2803.
In the Asian session, at GMT0300, the pair is trading at 1.2793, with the USD trading 0.08% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.2759, and a fall through could take it to the next support level of 1.2724. The pair is expected to find its first resistance at 1.2827, and a rise through could take it to the next resistance level of 1.2860.
Going ahead, investors will look forward to a rebound in Canadian retail sales for April, data for which is scheduled to release later in the day.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
