USD/CAD: Loonie trading higher, ahead of the BoC Governor’s speech

USDCAD

USDCAD Movement

For the 24 hours to 23:00 GMT, the USD rose 0.09% against the CAD to close at 1.2677.

In the Asian session, at GMT0300, the pair is trading at 1.2667, with the USD trading 0.08% lower from yesterday’s close.

The pair is expected to find support at 1.2643, and a fall through could take it to the next support level of 1.2619. The pair is expected to find its first resistance at 1.2705, and a rise through could take it to the next resistance level of 1.2743.

Going ahead, market participants will look forward to a speech by the Bank of Canada (BoC) Governor, Stephen Poloz, due later in the day.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

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