USDCAD Movement
For the 24 hours to 23:00 GMT, the USD marginally declined against the CAD to close at 1.3133.
In the Asian session, at GMT0300, the pair is trading at 1.3113, with the USD trading 0.15% lower from yesterday’s close.
The pair is expected to find support at 1.3085, and a fall through could take it to the next support level of 1.3058. The pair is expected to find its first resistance at 1.3164, and a rise through could take it to the next resistance level of 1.3216.
Going ahead, market participants await the Bank of Canada’s (BoC) interest rate decision, which widely expected to remain unchanged at 0.5%, scheduled to be announced later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
